AM Comments 03/24/16
Thursday, March 24, 2016, 7:03 AM
Submitted by: Dustin Weiner
Today is the last trading day of the week (no markets tomorrow) and corn and soybean futures were choppy overnight, ending the session a touch lower. The weakness is being credited to a higher $US and lower crude prices. We did get the weekly export sales report this morning and both corn and bean sales came in near the bottom side of trade guesses which is neutral to a little bearish. The lone bright spot comes from soy meal as meal sales were well above the range of guesses
Overall for today with little fresh fundamental news and major USDA reports coming later next week (stocks and acres) we expect corn and soybean prices to chop around and likely take cues from the outside markets today.
Corn mixed to 1c lower
Soybeans 1 to 3 cents lower
Have a great day!