Morning Comments 9/11/2013
Wednesday, September 11, 2013, 8:39 amSubmitted by: Kyle Lehman
Choppy trade overnight as traders position themselves for tomorrow’s big report. Yield is expected to be cut 1-1.5 bpa for both corn and beans with some of that being offset by reduced demand estimates. September is a big month with 3 potential market moving report: Supply/Demand tomorrow, FSA data Sep 17, and quarterly stocks on the 30th. Overnight rains were scattered and very limited with forecasts calling for better chances later this week and into next. Some of the late planted soybeans may benefit from these late rains but for the majority of the crop it will be of no benefit.
Outside markets are supportive as China’s stock index traded to the highest levels in the last 3 years. The dollar is currently lower while crude ticks slightly higher.
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