AM Comments 10/13/15
Tuesday, October 13, 2015, 8:10 AM
Submitted by: Dustin Weiner
We saw higher bean prices and slightly lower corn prices last night. That trend of firmer beans and weaker corn has been going on for a few trading days in a row now. I don’t think there are major changes out there fundamentally, it may simply be that the funds were caught a little too long on corn and are just lifting some of those longs. When you look at a chart, you have soybeans pushing up against recent highs while corn is slipping back a bit – hopefully finding some support just below these current levels.
The outside markets are trying to give a little help to us today with crude a bit stronger while the $US is steady/weaker. Overall, look for beans to open higher and if they get a head of steam underneath them – they could pull corn higher with it.
Corn steady to 2c lower
Soybeans 4 to 7 cents higher
Have a great day!