Tuesday, December 4, 2012

FC Market Commentary for December 4, 2012

AM Comments 12/04/12

Good morning!

Our markets are starting off mixed to lower this morning on little to no news.  After putting in some nice gains yesterday morning we saw a bit of a sell-off afternoon as the politicians continue to fight through this fiscal cliff.  The republicans now have a plan on President Obama’s desk – we will see if that gets us anywhere.  Every day that goes by without an agreement makes the market more and more nervous, hesitant to go long in commodities. 

Other than economic talk – there isn’t much going on.  China is rumored to have bought some more US soybeans for Jan shipment.  Their crush margins are improving a bit so this could be expected.  Argentina is still wet through the end of this work week, drying off a touch over the weekend and into next week.  Meanwhile US weather in relation to hard red wheat is not pretty – no rain forecasted for the next couple weeks with record warm temps. 

Currently
Corn is steady/mixed
Soybeans are down 3 to 5 cents

Have a great day!

Dustin Weiner
Farmers Cooperative Company
Ames, Iowa
Together we can!

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