Fccoop

MARKET COMMENTARY

AM Comments 11/20/15

Friday, November 20, 2015, 7:11 AM
Submitted by: Dustin Weiner


There’s not a lot of news out there today to discuss...  Looking at the outside markets, crude oil is down & the $US is stronger but the stock market is called higher – so call the outside markets mixed to a little negative. After a slight rebound yesterday soybean futures worked lower overnight and are dangerously close (again) to taking out their contract lows which as I mentioned yesterday, if that happens we could trigger another round of selling. A main topic of conversation this week in regards to soybeans has been this coming weekend’s presidential election in Argentina – though one of the candidates is more “market friendly” - both candidates have talked about lowering Argentina’s 35% soybean export tariff. Lowering the export tariff would crank up Argentine soybean exports, just at a time when the world market doesn’t need them.

 

Opening Calls

Corn 1 to 2 cents lower

Soybeans 5 to 8 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

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