AM Comments 02/12/16

Friday, February 12, 2016, 7:02 AM
Submitted by: Dustin Weiner

The soybean rally yesterday caught many traders by surprise as initially you look towards South America and you see no problems in weather.  The soybean strength was attributed to strength in palm oil (effecting soy oil which in turn bumped up soybeans) as palm oil has made new 21 month highs. The El Nino weather pattern which tends to benefit some areas, causes drought in others – in this case Malaysia and Indonesia are getting the drought and they produce something like 90% of the world’s palm oil. 


For today it appears things are settling down (even with firmer outside markets - crude and equities are higher as of now) as yesterday’s rally may have been a touch overdone.  The markets started higher last night and slowly sold off into the morning. The fundamentals of the market are still pretty clear in telling us that there is little opportunity for sustained rallies.


**NOTE** The Chicago Board of Trade is closed Monday in observance of President’s Day


Opening Calls

Corn steady/lower

Soybeans down 1 to 2 cents


Have a great day!






« Back

© 2019 Landus Cooperative, All rights reserved.
Landus Cooperative
2321 North Loop Dr., STE 220
Ames, IA 50010
Find Landus Cooperative on
facebook icon twitter icon youtube icon blog icon