AM Comments 03/25/14
Tuesday, March 25, 2014, 8:04 am
Submitted by: Dustin Weiner
Submitted by: Dustin Weiner
Good morning!
The markets are mixed this morning with corn a couple cents lower and soybeans a couple cents higher. There isn’t much for news out yet this morning but later today Informa (a well-followed private company) will release their estimates for 2014 planted acreage. This could have a small impact on price action during the trade today but the real report (coming from the USDA) will be released at 11am next Monday (March 31st). I do get the feeling the market may be caught a little long – meaning that between now and Monday would could see the market drift lower as traders even up their position (take profits).
The outside markets are higher with Crude Oil higher at this time (UP 49 @ 100.09) along with a higher US Dollar (138.07 vs. Euro) and the US stock market is higher (UP 77).
Opening Calls
Corn down 1 to 3 cents
Soybeans up 1 to 3 cents
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