Good morning!
The markets were steady to higher last night and the weekly export sales report that was released at 7:30am did very little to change that. Corn sales and bean sales were both near the bottom range of guesses - -so no major surprises there. The rumors this week (and the reason for the sharp decline in soybean prices) have center around sales cancellations. If those rumors are true – they will be reflected in next week’s report.
The wheat market continues to find strength thanks to fund buying and continuing problems in Ukraine. This also help keep the corn market propped up. Crimea will vote this Sunday on whether or not to leave the Ukraine for Russia, meanwhile Ukraine’s parliament voted to create a 60,000 member National Guard to help bolster the country’s defenses.
Outside markets are higher with Crude Oil higher at this time (UP 36 @ 98.36) along with a lower US Dollar (139.41 vs. Euro) and the US stock market is higher (UP 30).
Opening Calls
Corn steady to 1c higher
Soybeans 1 to 4 cents higher
Have a great day!
Dustin Weiner
@fccoopgrain
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