AM Comments 02/18/14
Tuesday, February 18, 2014, 8:00 amSubmitted by: Dustin Weiner
Good morning!
After the three-day weekend the markets are higher this morning, corn is maybe a couple cents higher while soybeans are double digits higher. There wasn’t a whole lot of fresh fundamental (S&D) news to go on last night – the move in soybeans appears to be technical in nature. There are key resistance levels in March corn at $4.50 and in March beans at $13.50 that will be watched closely. Both of them are hovering right around those spots, it will be interesting to see how we close the day.
The USDA’s weekly export inspections report will be out later this morning, along with the NOPA soybean crush report. Both of these will give strong indications to the market on how strong this soybean demand truly is and whether or not it is speeding up or slowing down.
Opening Calls
Corn steady to 2 cents higher
Soybeans 10 to 15 cents higher
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