AM Comments 01/02/13
Wednesday, January 2, 2013, 7:58 amSubmitted by: Dustin Weiner
Good morning!
Our markets don’t open until 9:30am today (due to yesterday’s holiday) and they are called higher. The fiscal cliff was averted which will shield millions of middle-class taxpayers from the tax increases that were set to take place this month. The counter to that is that on the households earning more than $450k/year – those tax rates will increase. This is the first time in more than 20 years that a broad tax increase has been approved with GOP support.
So, the outside markets are a friendly input this morning as the politicians found it un-wise to play chicken with the American people for any longer. If those gains hold on till 9:30 our corn and soybeans markets should open higher.
Opening calls:
Corn 3 to 5 cents higher
Soybeans 7 to 15 cents higher
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