AM Comments 11/06/15
Friday, November 6, 2015, 8:11 AM
Submitted by: Eric Kist
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.
Corn: 2-3 lower
Beans: 2-3 lower
Have a great day!