AM Comments 03/08/13
Good morning!
Our markets are starting off choppy/mixed – with the USDA S&D report out at 11am it should be a quiet morning up until then. Both corn and soybeans spent most of the night session trading higher, with both markets now hovering around unchanged.
Again, the market is expecting slight increases in corn carryout and slight decreases in soybean carryout in this report. With the big March 28th stocks and planting intentions report hanging over our heads – this report has a chance to be a dud.
The extended weather forecast in South America looks the same as it did yesterday – which is non-threatening. The ‘weather market’ down there feels like it can officially be put to bed.
Currently
Corn is 1 to 3 cents higher
Soybeans are 1 cent higher to 1 cent lower
Have a great day!
Dustin Weiner
Farmers Cooperative Company
Ames, Iowa
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