AM Comments 12/3/15
Thursday, December 3, 2015, 7:12 AM
Submitted by: Eric Kist
Markets were weaker overnight, as corn is trading down a penny, and soybeans are six cents lower so far this morning. Weekly export sales figures just released this morning will not do anything for the bulls – reported corn sales for the week are below expectations, and soybeans were in the lower bound of expectations.
Apart from export sales numbers, corn and beans should be able to find support from outside markets at some point today. The US Dollar Index is sharply lower this morning (after trading within shouting distance of its 12-year highs yesterday), and crude oil is up almost a dollar per barrel so far this morning. Markets will open lower, but hopefully these inputs can help lift corn and beans higher.
Beans: 5-6 lower
Have a great day!