AM Comments 03/26/14
Wednesday, March 26, 2014, 8:02 am
Submitted by: Dustin Weiner
Submitted by: Dustin Weiner
Good morning!
The markets were quiet overnight last night with corn trading around 2c lower and beans a nickel lower at the 7:45am pause. Yesterday Informa released their guesses on planted acreage this fall and it wasn’t overly surprising. They showed corn acreage at 93 million acres and soybean acreage at 81.2 million acres. This is right in line with what most traders are thinking. The average trade guesses for next Monday’s Prospective Plantings report is 92.748ma of corn and 81.075ma of soybeans.
Later this morning there will be a weekly ethanol production report released that could move the corn market a bit, and tomorrow morning we will see our weekly export sales report (bean cancellations anyone??) but other than that this week looks quiet for new news. So… between now and Monday morning expect a similar trade to what we are seeing today – choppy, mixed, maybe trending a bit lower.
Opening Calls
Corn down 2 to 3 cents
Soybeans down 3 to 6 cents
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