Morning Comments January 30, 2017
Monday, January 30, 2017, 2:01 PM
Submitted by: Landus Cooperative
Markets were weaker overnight led by the soybean complex. South American weather is pressuring soybeans with dryness improving conditions in Argentina. This week’s forecasts continue to look beneficial for crop development. Technical selling pressure and unexpected net long positions by the funds in both corn and soybeans are also contributing weakness. Throw in uncertainty regarding trade with Mexico and China and markets are starting the week with a defensive tone.
A reminder that China’s markets are closed all this week for the Lunar New Year holiday.
Corn 3-4 cents lower
Soybeans 12-14 cents lower
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