AM Comments 04/08/13
Monday, April 8, 2013, 7:52 amSubmitted by: Dustin Weiner
Good morning!
Our markets are higher this morning, led by soybeans. Overnight the Chinese soybean futures were even/flat – this comes as a bit of a surprise as most traders assumed those futures would trade lower after China got back from their holiday (due to bird flu). So… maybe this bird flu isn’t as big of a deal as we thought last week? Either way, today the soybeans are bouncing back nicely.
As you know, the markets are trading new hours… the electronic session is currently “paused” as I type this. It now stops trading at 7:45am M-F to regroup from the overnight session, with both the pit and the electronic turning back on 8:30am (and both turn off to settle up the day at 1:15pm).
Opening Calls (for the 8:30am open):
Corn is called 3 to 4 cents higher
Soybeans are called 8 to 12 cents higher
5-Day Precip Outlook
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