Good morning!
The markets started out choppy last night – kicking
off the session lower on EU debt issues before crude oil led us higher,
thanks to continued conflict in the Middle East. This raised both corn
and soybeans off their overnight lows.
The EU weakness was tied to Greece leaders failing (again) to reach a
debt agreement which delays the release of aid $$. They will pick the
conversation up again on Monday.
Today should be a quiet day on thin volume as
holiday mode officially set in. There are virtually no fundamental news
stories to discuss. We did get a little bit of economic data out of
China showing their crude oil
imports for October were up almost 15% compared to last year.
The bulls will read this as a sign the Chinese economy is improving
which long term is friendly to commodities.
Currently
Corn is 1 to 2 cents higher
Soybeans are 4 to 6 cents higher
Remember – no markets tomorrow, trade resumes at 9:30am Friday.
Have a great day!
Dustin Weiner
@fccoopgrain
No comments:
Post a Comment