Fccoop

MARKET COMMENTARY

AM Comments 10/23/15

Friday, October 23, 2015, 7:10 AM
Submitted by: Dustin Weiner


The markets traded mixed overnight and are currently a touch below yesterday’s closing prices.  Yesterday’s trade started out promising with strong soybean exports and higher prices, only to tumble and see both corn and soybeans close lower.  The $US was the culprit as it put in an impressive rally yesterday, pressuring most all commodities.  Overnight, the $US was a shade weaker to start – which let corn and soybeans drift higher – only to rally a bit this morning, which took prices back lower.  The cardinal and gold chart below shows the US Dollar Index – you can see both yesterday’s big jump and the price action so far in today’s session. If that continues to rally today we could struggle to trade higher.

 

Opening Calls

Corn steady/lower

Soybeans steady/lower

 

Have a great day!

 

@fccoopgrain

 

image001.png

 

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