AM Comments 03/15/13
Friday, March 15, 2013, 8:25 amSubmitted by: Dustin Weiner
Good morning!
Today looks to be a quiet day with very little new news to talk about. The $US is sharply lower this morning which should benefit commodity prices overall.
The USDA’s stocks and acreage report is now less than two weeks away – the bulls feel that the stocks number will reflect higher demand than expected – pushing nearby May futures in both corn and soybeans higher. The bears feel that the record soybean crop in South America and overall world weather outlooks that look “normal” are telling us current prices are too high.
Currently
Corn is steady to down 2 cents
Soybeans are 3 to 5 cents higher
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