Thursday, November 15, 2012

FC Market Commentary for November 15, 2012

Good morning!

It is a very quiet start to the news day this morning.  There was some export business done overnight in wheat, which has that market a little firmer this morning which could lend support to corn. 

The corn and soybean trade is watching/waiting for new news on the Mississippi River.  Currently the plan is for the river to be shutdown due to low water levels starting December 10th.  Because of this you have river terminals running as hard trying to ship as much as they can prior to that.  The Army Corps of Engineers is under the gun trying to come up with a way to prevent the shutdown of the river but it doesn’t seem likely.  It is somewhat of a wildcard as to what happens if/when it does close.  It could be friendly to central IA basis as the gulf may need to replace barge purchases with rail. 

Currently:
Corn is steady
Soybeans are down 2 to 4 cents

Have a great day!

Dustin Weiner
@fccoopgrain

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