AM Comments 09/18/13
Wednesday, September 18, 2013, 8:11 amSubmitted by: Dustin Weiner
Good morning!
It was a slow, quiet session overnight last night as corn and soybeans drifted steady to lower – both trading in a narrow range. The soybean chart looks short-term negative after the market rallied (and failed) after yesterday’s updated prevent plant data. The Nov soybean chart should be slipping into some decent support which could stabilize prices for the rest of the week.
Weather… still no sign of frost over the next two weeks which could send a signal to traders to remove that risk premium from the market. Over the next 10 days temps will be near to above normal with precip near to above normal. The belt did get some nice rains over the past few days with another cold front expected to come Thursday-Saturday bringing additional moisture.
Opening Calls
Corn steady/mixed
Soybeans down 4 to 7 cents
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