AM Comments 11/08/13
Friday, November 8, 2013, 7:46 amSubmitted by: Dustin Weiner
Good morning!
Nothing much to say this morning as the market prepares for the 11am release of the November crop reports from the USDA. As you know, we haven’t seen data from the USDA since September, so this report will be very important in determining flat price and spreads for both corn and soybeans from here forward. The trade estimates are at the bottom of these comments, reflecting what the market is currently trading.
So. Expect a quiet trade up until 11am. Updated weather forecasts look cooler and drier for next week, the next chance of decent precip doesn’t show up until next weekend and even that is sketchy at best. This should allow harvest to get wrapped up most everywhere.
Opening Calls
Corn mixed, down 1c to up 1c
Soybeans steady to down 3c
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