AM Comments 12/04/12
Good morning!
Our markets are starting off mixed to lower this
morning on little to no news. After putting in some nice gains
yesterday morning we saw a bit of a sell-off afternoon as the
politicians continue to fight through this fiscal cliff. The
republicans now have a plan on President Obama’s desk – we will see if
that gets us anywhere. Every day that goes by without an agreement
makes the market more and more nervous, hesitant to go long in
commodities.
Other than economic talk – there isn’t much going
on. China is rumored to have bought some more US soybeans for Jan
shipment. Their crush margins are improving a bit so this could be
expected. Argentina is still wet through the end of
this work week, drying off a touch over the weekend and into next
week. Meanwhile US weather in relation to hard red wheat is not pretty –
no rain forecasted for the next couple weeks with record warm temps.
Currently
Corn is steady/mixed
Soybeans are down 3 to 5 cents
Dustin Weiner
Farmers Cooperative Company
Ames, Iowa
Together we can!
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