AM Comments 11/14/16
Monday, November 14, 2016, 1:11 PM
Submitted by: Dustin Weiner
Our markets are weaker this morning with outside influences accounting for most of the pressure. We see the $US continuing to rally as the Dollar Index is nearing its highest level in almost a year which helps oil prices (along with many other commodities) slip into the red. Also - the Brazilian Real is moving lower at the same time which is creating selling opportunities (higher prices) for the farmers in South America. The Chinese markets are keeping the bearish train a-rollin’ as they also worked lower last night (Dalian Exchange soybeans were down 5%) as the Chinese government does their best to crack down on “commodity speculation” by raising the rates/fees needed to trade certain products.
All-in-all, none of the above listed news is positive for price action today which could keep any attempted recoveries/rallies limited.
Corn 2 to 3 cents lower
Soybeans 6 to 8 cents lower
Have a great day!
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