AM Comments 11/05/15
Thursday, November 5, 2015, 8:11 AM
Submitted by: Eric Kist
Disappointing export sales for all three commodities.
Soybean sales were a marketing year low at only 24.09 mb.
The markets attention turns to next Tuesday’s WASDE report.
Farmers remain reluctant sellers post-harvest.
Chicago December wheat trading above the 100 and 200 day moving averages.
Lower markets as we enter the office due to disappointing export sales numbers for all three commodities. Corn exports have been lackluster all crop year so far, but in recent weeks soybean export numbers seemed to be building quite a bit of positive momentum….not the case this week however, as soybean sales were a marketing year low of 24 million bushels (compared to expectations of 51-66 million bushels). Let’s hope it doesn’t become a trend.
Corn and beans continue to chop sideways on a lack of fresh news, as the market is turning its attention to this Tuesday’s upcoming WASDE report.
Corn: 3-5 lower
Beans: 5-8 lower
Have a great day!