Tuesday, April 16, 2013

A.M. Grain Market Commentary for 4/16/2013

AM Comments 04/16/13


Tuesday, April 16, 2013, 8:19 am
Submitted by: Dustin Weiner


Good morning!
 
Our markets are bouncing back higher this morning – possibly gaining strength from yesterday afternoon’s planting progress report which came in at 2% planted across the U.S. (it was expected to be 5-7%).
 
Gold futures have taken a beating the last couple days (down $140 yesterday and down $63 on Friday), but are rebounding a bit this morning – up $30.  The hope is that grains will not run into additional selling as traders seek ways to pay margin calls from these losses. 
 
As you can hear from your local news programs – the Midwest forecast is wet this week.  The extended forecasts for the Midwest are mixed with the American model calling for a dry week next week while the EU model shows it as wet. 
 
Opening Calls
Corn steady to 2 cents higher
Soybeans 8 to 12 cents higher

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