AM Comments 11/19/12
Monday, November 19, 2012, 9:04 amSubmitted by: Dustin Weiner
Good morning!
Our markets are bouncing higher today, led by the outside markets. The dollar is weaker this morning which has crude oil higher along with most other commodities. There is a general ‘improved feeling’ regarding this fiscal cliff – thanks to some comments from Obama yesterday showing his confidence that a solution will be found. Also in positive outside market news: leaders from Europe seem to be figuring out a plan for Greece’s financial issues.
In the fundamental, S&D news category – there isn’t much to talk about yet today. Brazilian 6-10 day weather looks to turn a little drier while Argentina appears to return to normal. The USDA did report a 20k MT sale of soybean oil this morning to “unknown” which could help support the soy complex.
Currently
Corn is 3 to 5 cents higher
Soybeans are 13 to 16 cents higher
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