AM Comments 11/27/12
Tuesday, November 27, 2012, 8:23 amSubmitted by: Dustin Weiner
Good morning!!
Our markets are higher again this morning, led by the soybean complex. Weather in South America is the topic of conversation today as Argentina has turned wetter – so wet that there is standing water in some areas causing planting delays and even potential replants of soybeans. As we know, beans can handle dry weather OK but they do not like wet feet. This situation will delay harvest which causes concern because the world demand sector will be chomping at the bit to get those beans into the pipeline early this spring.
The outside markets are a mixed/neutral input this morning – EU officials appear to have reached a deal with Greece, sending them another round of bailout $$. This should/could be friendly to the markets but with the U.S. fiscal cliff still hanging over the market – rallies tend to get sold.
Currently
Corn is 2 to 4 cents higher
Soybeans are 8 to 10 cents higher
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