AM Comments 10/16/15
Friday, October 16, 2015, 7:10 AM
Submitted by: Dustin Weiner
This week of trade seems to be wrapping up in a mixed, quiet fashion. The weekly export sales report was out this morning and even though both corn and soybean sales came in above expectations, the market didn’t move a whole lot. The price of December corn futures continued to slip a bit last night – it traded down below S3.75, now trading at a 5-week low. This weekend could be the last major harvest weekend for the U.S. as certain parts of the corn belt will start to wrap up corn next week. The 2-week forecast is still showing above normal temps while precip forecasts are starting to turn more “normal” (it has been below normal over the past few weeks). The outside markets look mixed, although crude oil is trying to bounce this morning after four down days in a row.
Have a great day!