AM Comments 10/10/13
Thursday, October 10, 2013, 7:59 amSubmitted by: Dustin Weiner
Good morning!
We are now on day ten of the government shutdown and believe it or not it feels like these next rounds of meetings could get us closer to an end. The equity markets are rallying today on that thought - the Dow futures were up 120 points last I checked.
Overnight both corn and beans opened up mixed but have since turned higher, led by soybeans. With farmers for the most part being reluctant sellers, Nov beans have firmed against the deferred months (a bigger inverse). The weather forecast looks a little more ‘active’ than normal for parts of the belt with rains events penciled in for this weekend, mid next week and maybe a third event coming late next week. This could keep the front end of the market a little firmer as harvest will likely be delayed in spots. Cooler temps are also expected starting mid next week.
Opening Calls
Corn steady to 2c higher
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