AM Comments 11/15/16
Tuesday, November 15, 2016, 2:11 PM
Submitted by: Dustin Weiner
After trading most of the night session in the red, our corn and soybeans have made an attempt to trade steady/higher here this morning. The outside markets are (currently) providing a little support with the $US weaker and crude oil rallying. Later today there will be a NOPA soybean crush report released telling the market how many soybeans were crushed in October. The trade is expecting a new record to be set for the month of October, if the report falls short of that we could see a little weakness as our balance sheet still needs proof of every bit of demand it can find. The weather in South America continues to look non-threatening with Brazil receiving timely rains and Argentina getting a needed break from precip.
Overall for today it appears that unless there’s a surprise in the NOPA crush report, we will again be taking our cues from the outside markets…
Corn steady to 2 cents higher
Have a great day!
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