AM Comments 12/16/15
Wednesday, December 16, 2015, 8:12 AM
Submitted by: Eric Kist
Quiet markets again overnight, as the trade is preparing to hear the official minutes from the monthly Federal Open Markets Committee, which concludes at 1:00 PM today. Many are expecting the Fed’s statement to include an interest rate hike, and thus appear to be watching from the sidelines until the official press release is out. Generally speaking, higher interest rates are friendly to the dollar, which in turn is then a bearish input for our grain markets.
The weekly ethanol production report will also be out today. Central Iowa ethanol margins are near breakeven, while blender margins are currently negative.
Weather for the Midwest continues to be unseasonably warm, and extended forecasts are showing above normal temperatures are expected to continue through the month of December.
Beans: 1-2 higher
Have a great day!