Morning Comments February 14, 2017
Tuesday, February 14, 2017, 8:02 AM
Submitted by: Landus Cooperative
The dollar is weaker after the latest political developments which is helping crude oil and gold make some slight gains.
Corn is lower with more than half the trade in March-May spreads. Year to date export inspection are well above what was forecast by USDA. Corn appears to be following a slight bullish pattern which could provide some more upside.
March soybeans are down but remain above the 25 day moving average of $10.4475. January board crush is lower but still above levels from a year ago. Year to date export inspections are above USDA forecast rate but beginning to slow. Demand for old crop is shifting to South America. Fear of big increase in U.S. plantings this spring could hold back rallies.
Corn down 1 to 2
Soybeans down 4 to 6
Wheat down 5