AM Comments 10/15/15
Thursday, October 15, 2015, 8:10 AM
Submitted by: Dustin Weiner
The corn market continued to drift lower last night while beans chopped around on both sides of unchanged. The corn market is slowly slipping back into what should be good support on the charts at $3.75 on the December futures contract – although Dec corn is now below the 50-day moving average... Those with corn to sell might want to be careful in here, if the support doesn’t hold and we snap lower we could see additional selling pressure. Later this morning the NOPA soybean crush report will be released and is expected to show September soybean crush at the highest levels since 2007(!!). There is always a little risk for disappointment when the market is expecting such a high number.
Corn 1 to 2 cents lower
Have a great day!