AM Comments 10/02/13
Wednesday, October 2, 2013, 8:09 amSubmitted by: Dustin Weiner
Good morning!
The soybean market was higher last night. At first glance it just looks like a bit of a recovery or bounce on the soybean chart, however there is a little bit of fundamental news that supports the move. First of all, the weather in the U.S. is going to be more active the next couple of days, potentially delaying bean harvest a bit and secondly – it is still dry in parts of South America which is delaying planting.
Overall these aren’t major issues but on a slow news day – it is worth mentioning. The extended forecasts are showing some normal to above normal temps and normal to below normal precip which should let harvest progress easily through next week.
Opening Calls
Corn steady to down 2c
Soybeans 5 to 7 cents higher
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