AM Comments 12/19/12
Wednesday, December 19, 2012, 8:21 amSubmitted by: Dustin Weiner
Good morning!
Our markets are trading mixed this morning after knocking out some small gains overnight. The outside markets are lending support (thanks to potential fiscal cliff progress?) with the dollar weaker while the Dow futures, gold and crude are all higher.
The wheat market is finding support on news that the U.S. is exporting wheat to Egypt. This positive news could/should spill over into corn today.
At 10:30 this morning Informa Economics (well followed private company) will come out with their estimates an 2013 U.S. planted acreage. Their previous guesstimate was for 97.7 million acres of corn and 80.0 million acres of beans. (2012 acreage was 96.9 and 77.2 respectively).
Currently
Corn is steady/mixed
Soybeans are steady to down 2c
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