AM Comments 01/09/13
Wednesday, January 9, 2013, 8:15 amSubmitted by: Dustin Weiner
Good morning!
It was another quiet trade last night and there isn’t much out this morning to change that. China is being mentioned in a couple news stories for buying U.S. wheat, optional origin U.S. soybeans (which means it could be switched to other countries) as well as possibly a few Argentine and Brazilian cargoes. Overall this is offering support to the market.
Other than that – not much going on. Basis is still firm in the domestic corn and soybean markets with Illinois showing some improvements as of late. Wheat prices in China are at record highs (which explains the purchases of US wheat).
Currently
Corn is steady to up 1 cent
Soybeans are up 1 to 3 cents
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