AM Comments 10/01/15
Thursday, October 1, 2015, 8:10 AM
Submitted by: Dustin Weiner
As we start the new month and new quarter, our markets were mixed overnight with corn hovering around steady while beans were a touch firmer. The equity markets are called higher today (after being firmer yesterday) and so is crude oil – so the new month looks to be starting out positive in those markets. The export sales report this morning showed OK sales for corn made last week (neutral to prices) and great sales for soybeans (should be friendly to prices). China is on holiday starting today through next week (this is similar to our 4th of July holiday, except they take a week) which could keep additional export news quiet for a bit.
Overall for today, look for steady/higher prices in general to start out. The wheat market is pushing into 6-week highs which has the potential to pull corn up with it but it seems that the recent patterns will tell you that rallies are meant to be sold...
Soybeans 2 to 4 cents higher
Have a great day!