AM Comments 01/29/16
Friday, January 29, 2016, 7:01 AM
Submitted by: Dustin Weiner
The stock markets are all called higher this morning while our corn/soybean markets are fighting to stay positive as the strong $US is creating a headwind. When I got in this morning corn and beans are both hovering around unchanged to a little lower. The export sales report was out at 7:30 this morning (it was delayed a day due to the “snow day” the US Gov’t had earlier this week). While export numbers came out in line with guesses, it felt like the market had a sigh of relief as there were many who were nervous we would see poor exports in soybeans. This popped the bean market up a couple cents.
Overall, today could end up being pretty quiet. It’d the end of the week, the end of the month, there aren’t any fundamentals to talk about and the outside markets feel mixed. If I had any advice today, I would say rallies are meant to be sold as this could be a choppy day.
Have a great day!