AM Comments 3/12/2014
Wednesday, March 12, 2014, 8:29 am
Submitted by: Joel Pudenz
Submitted by: Joel Pudenz
Good Morning!
The markets are under some pressure this morning with nearby soybeans down 39 cents. Rumor is China has cancelled some soybean cargos from Brazil, changed some US Gulf vessels last night, and are seeking to exit other purchases. Additional pressure from fund liquidation pushed the price below last week’s low.
Corn was also lower this morning by 4 cents, but the trade is still uneasy about the Ukraine situation. The Ukrainian parliament has voted to keep the country together even if the people of Crimea vote to leave Ukraine. The uncertainty has the market a little worried about what this means for exports.
Opening calls:
Corn down 4 to 5 cents
Beans down 30 to 40 cents
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