AM Comments 10/08/15
Thursday, October 8, 2015, 7:10 AM
Submitted by: Dustin Weiner
The markets were weaker overnight but the trade was awfully quiet, corn traded in a range of just 1.5c while soybeans trade in a 6.75c range – most of that lower. Not a lot of action. The weekly export sales report was out this morning, corn sales were a tad disappointing while soybean sales were above the range of guesses – a tad supportive.
China has returned from holiday and the Shanghai Composite (equity markets) jumped higher to follow suit with what the rest of the world had done while they were on break. US soybean exporters will be watching to see if China steps in with any export sales now that they are back. Overall -- with tomorrow’s supply and demand report right around the corner… the markets could be choppy/mixed for most of the day today as everyone attempts to bring their positions closer to even.
Corn 1 to 2 cents lower
Soybeans 3 to 6 cents lower
Have a great day!