AM Comments 12/21/15
Monday, December 21, 2015, 7:12 AM
Submitted by: Dustin Weiner
As we start the first day of our holiday shortened week of trade, the corn and soybean markets are trading steady to a little firmer, after opening up lower last night. South American weather hasn’t changed much over the weekend, if anything it has improved a bit which is likely the reason behind the lower price action witnessed at the 7pm CBOT open last night. This doesn’t mean that we are done talking about South America though, their weather will remain one of the most important drivers for a little while – at least until the USDA gives us final stocks/production/S&D data on January 12th.
Most recently ‘no news’ type trade days have ended up with prices slipping higher – today feels like it could be a choppy affair on both sides of Friday’s close. This time of year as each day goes by, volume should decline not only ahead of the holiday but ahead of the year end. Many in trade could wait until 2016 before taking a position in our markets (either long or short).
Have a great day!