Good morning!
Overnight the corn and soybean markets traded in a narrow range on both sides of yesterday’s close – not a lot of excitement.
The USDA will give us all the action we need at 11am today.
Stocks. Acres. 8 out of the last 10 quarterly stocks reports have a
caused a limit move – up or down. If there are surprises to be found
today, they could be in the stocks
number. The acreage number will be disputed by traders minutes (or
seconds?) after it is released but the stocks number will be somewhat
fixed, simply telling us whether further demand rationing of old crop
corn/soybeans is needed or not.
Opening Calls
Corn steady to down 2 cents
Soybeans steady to up 2 cents
Have a great day!
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