AM Comments 02/17/16
Wednesday, February 17, 2016, 7:02 AM
Submitted by: Dustin Weiner
After a nice start to the marketing week yesterday (corn was up 4c, beans were up 6c) we are seeing quiet markets overnight with both commodities trading a shade lower. The outside markets are firmer today, crude oil is trading higher which generally helps persuade traders to make today a “risk-on” type of day. The U.S financial markets are firmer also, attempting to put in their third straight day of stronger trade – receiving a boost overnight from firmer markets in China and Europe.
The USDA will be meeting next week (Feb 25-26) for its annual Agricultural Outlook Forum. This will be something to look forward to as we will get to see new-crop production estimates - which of course start with the all-important 2016 acreage projections.
Corn fractionally lower
Soybeans 1 to 2 cents lower
Have a great day!