AM Comments 10/12/15
Monday, October 12, 2015, 7:10 AM
Submitted by: Dustin Weiner
It was another big harvest weekend across the corn belt and the next harvest progress report is expected to show over 40% of the US corn harvested and over 60% of the US soybeans harvested. The outside markets are a touch friendly today… while government offices and banks are closed for the Columbus Day holiday (this delays the crop progress report until tomorrow afternoon), equities are slightly higher – hoping to close higher again today which would make it the 7th day in a row.
Overnight in our grain/oilseed futures, corn was mixed while soybeans were higher - following through on Friday’s rally which was due in part to the USDA cutting bean acreage in their S&D report. Overall for today, we expect a mixed trade with commodity futures taking cues from the rest of the outside markets.
Soybeans 4 to 6 cents higher
Have a great day!