Monday, December 24, 2012

A.M. Grain Market Commentary for 12/24/2012

12-24-12 AM Comments

Monday, December 24, 2012, 8:41 am
Submitted by: Jon Setterdahl

Quiet trade expected today. Markets close at noon today and reopen at 9:30am Wednesday.
News items are thin, as expected. Markets are anticipating some sort of late compromise on the fiscal cliff issue. November cattle on feed report Fri showed Nov placements down 6% from last year, overall cattle herd is at lowest level in 4 years.
Grain markets are struggling for positive news lately…..S.American weather has moderated from early concerns and is ok for the moment, US corn exports continue to be depressed, and Chinese soybean purchase cancellations last week were negative.
The next possible news-maker will be the Jan 11 USDA report, which will include monthly supply/demand updates as well as quarterly grain stocks.
Have a Merry Christmas from the FC grain marketing department!!  And be safe in your holiday travels.

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