AM Comments 11/26/12
Monday, November 26, 2012, 9:13 amSubmitted by: Dustin Weiner
Good morning!!
Our markets are firmer this morning, with both corn and beans pushing up near their highs for the day. News is limited – US weather forecasts are starting to cause a slight concern in wheat as the southern plains are still hanging on to warmer temps, keeping wheat from going dormant. Wheat “good-to-excellent” conditions are the lowest on record (for this time of the year) so this will be something interesting to watch as the year progresses.
The USDA reported a sale of soybean oil this morning to ‘unknown’ (probably China) which is supporting the soybean complex. The trade is expecting big export inspections on soybeans this week, 60-70mb shipped last week is the average guess. This train of thought is also supportive to soybeans.
Currently
Corn is 3 to 4 cents higher
Soybeans are 11 to 13 cents higher
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