AM Comments 12/23/16
Friday, December 23, 2016, 2:12 PM
Submitted by: Dustin Weiner
Our markets ended the night session trading a touch weaker this morning – soybeans were down just a penny at 7:45am which is a bit of a victory after bean futures traded down into new lows for the move earlier in the session. For the week: bean prices are down over 40 cents and corn is down around a dime and to be honest - there hasn’t been much for “news” all week. The next big piece of information comes on January 12th when the USDA gives us the final S&D for 15/16, the crop production report for fall ’16 and an updated look at the 16/17 S&D. This report has been known for excitement and should wake everyone up from this slow-trading holiday slumber.
If you MADE me come up with something to talk about this morning… northern Brazil is starting to show signs of dryness with weather forecasts projecting high temps and dry weather persisting into January. This should easily be ignored today but if it stays dry through next week this could be a story…
Remember – the market closes just over an hour early today (12:05pm CST) and don’t open again until Monday night at 7pm CST.
Corn steady to 1c lower
Soybeans 1 to 3c lower
Have a great day!
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