AM Comments 02/02/15
Tuesday, February 2, 2016, 8:02 AM
Submitted by: Dustin Weiner
Prices are mixed this morning with the crude oil market weighing equities and other markets down. Crude is trading weaker for the 2nd day in a row – which is putting a stop to the recent uptrend. Fundamentally once again there is very little to discuss regarding corn and soybean S&Ds. With the winter storm blanketing much of Nebraska and Iowa today – our Western Corn Belt cash markets will be quiet today also.
Overall, corn and soybean futures prices may end up simply following the outside markets around today. While we will like start off under pressure, I wouldn’t be surprised to see a 2-sided trade as the corn chart in particular still looks pretty strong (at this time).
Have a great day!