Fccoop

MARKET COMMENTARY

AM Comments 01/28/16

Thursday, January 28, 2016, 8:01 AM
Submitted by: Dustin Weiner


The grain markets were quiet again last night with corn and soybeans both showing small losses and the outside markets showing small gains (crude oil, gold and the Dow futures are all higher).  The corn trade has been very limited lately – the last 7 trading sessions have all traded inside a narrow range (roughly March corn futures have been stuck trading between 3.64 & 3.72). The corn trade is in a bit of a pickle on technical vs fundamentals.  Technically the charts give the appearance that things are ok (good support underneath and you can see potential for rallies) while the fundamentals are telling us to be careful (poor end-user margins, weakening basis, ethanol production finally slowing).

 

Opening Calls

Corn steady to 1 cent lower

Soybeans 1 to 3 cents lower

 

Have a great day!

 

@fccoopgrain

 

 

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