AM Comments 05/27/16
Friday, May 27, 2016, 1:05 PM
Submitted by: Dustin Weiner
The markets were fairly quiet last night and while I’d like to tell you I’m confident they will stay quiet all day today - recent history would say otherwise... Now, if we are going to stay mixed today – the upcoming three day weekend may help us, keep things choppy as traders look to even up positions ahead of it.
The outside markets are starting the day out as a slightly negative input with the $US higher and Crude Oil / Gold lower. What will be interesting is that today at 1:15, Fed Chair Yeller will be speaking. Her comments could give clues to interest rate hike potential. Unfortunately for us – this happens pretty much after the close and any major news (affecting the $US) will have to wait until 7pm Monday to be traded in our markets. This could add to the choppiness.
Weather… to me there aren’t any shocking/new items to discuss, although some are starting to chat about rains slowing the winter wheat harvest. The 6-10 day maps are starting to look a touch drier and maybe a touch cooler but there’s really not much to see there.
Lastly – at 8am there was a flash sale reported of old crop corn to China… This could help corn open higher here at 8:30am after trading slightly lower overnight.
Have a great day!
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