AM Comments 10/09/15
Friday, October 9, 2015, 7:10 AM
Submitted by: Dustin Weiner
The corn and bean markets both found some support last night and traded higher for most of the session. The $US is under heavy pressure this morning as the Fed minutes reflected concern of a continued global economic slowdown. This is helping funnel money into commodities, with crude oil now trading above $50 for the first time since July.
With the S&D out at 11am today, it should be a choppy/thin morning until that is released (the trade expectations for this report are shown below). The funds had been buyers most of the week (helping prices firm) only to take pre-report profits and turn into net sellers yesterday which helped explain the lower trade.
Corn 1 to 3 cents higher
Soybeans 3 to 6 cents higher
Have a great day!