AM Comments 01/23/13
Wednesday, January 23, 2013, 8:17 amSubmitted by: Dustin Weiner
Good morning!
It was a quiet night last night in the grain markets. The soybean market broke higher yesterday – through some big resistance points on the chart – thanks to dry weather in South America. After that large rally, soybeans appear to be taking a breather so far today. This could be just profit taking or it could be that these small chances for light showers late this week in Argentina have a few traders nervous.
Other than that – we don’t expect much in the way of ‘new news’ to come out today. SA weather is the main topic of conversation and it will likely stay that way for a while.
Currently
Corn is steady to down 2 cents
Soybeans are down 4 to 6 cents
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