AM Comments 12/30/15
Wednesday, December 30, 2015, 8:12 AM
Submitted by: Eric Kist
Higher markets overnight fueled by a small amount of short covering and concerns over flooding in Midwest states from recent rains. St. Louis has received nearly 4 ½ times more rain during the month of December compared to an average year, which has halted barge traffic on parts of the Mississippi River. Wheat traders are also concerned, as soft red wheat growing areas have also been impacted by recent heavy rains.
Outside markets are working against grains so far, as the $ Index is higher and crude oil is giving back nearly all of its gains yesterday.
Trade is expected to be slower than normal over the next week, as news is scarce, and the majority of the world will be off celebrating holidays.
Corn: 1-2 higher
Beans: 3-4 higher
Have a great day!