AM Comments 03/10/14
Monday, March 10, 2014, 7:56 amSubmitted by: Dustin Weiner
Good morning!
The USDA’s monthly S&D report is out later this morning (11am) and there isn’t much expected for action between now and then. Overnight the Chinese soybean market was hammered, closing sharply lower along with a bunch of other commodities that were weaker. Recent export data has been causing concerns about an economic slowdown over there – Chinese exports in February were surprisingly down 18.1% from last year in $US terms. This apparent evidence of a ‘not too healthy’ Chinese economy sent shares down 2.9% in Shanghai, with Hong Kong stocks down 1.8% and Tokyo shares closing down 1.0%.
Opening Calls
Corn down 4 to 6 cents
Soybeans down 4 to 7 cents
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