Fccoop

MARKET COMMENTARY

AM Comments 11/06/15

Friday, November 6, 2015, 8:11 AM
Submitted by: Eric Kist


Good morning!

 

Lower markets again here this morning following yesterday’s nasty performances (corn down 6, beans down 20) due to some follow-through selling.  At the morning break corn is down another 2 cents, and beans are down another 3c. 

 

Also pressuring grains this morning was a positive jobs report showing 271k jobs were added during October, and the unemployment rate was lowered to 5.0%.  This report is friendly to the US $, and thus bearish grains. 

 

Looks for a quiet day of trade to end the week here, as funds are expected to be positioning themselves ahead of this upcoming Tuesday’s USDA Supply & Demand report.

 

Opening calls

Corn: 2-3 lower

Beans: 2-3 lower

 

Have a great day!

 

@fccoopgrain

 

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