Markets are called mixed this a.m. behind a mixed overnight
session that saw a little weakness in beans and continued strength for corn and
wheat. Outside markets are also a little
disappointing which could add to a little weakness from the overnight session.
In the overnight session corn was up 3-4 cents, beans where
off 3-6 cents, MPLS wheat was firmer by 4-5 cents, KC wheat was 5-6 cents
better, and CBOT wheat ended up 5 ½ as the night session ended. Speaking of night sessions this may be the
last break we have as the latest from the CME is that starting Sunday night the
markets will run from 5 pm to 2 pm the next day. Closing time will still be the same at 1:15. But this has been a changing target. As of 9:15 outside markets have European
wheat up on dry concerns in Russia and cold concerns in parts of EU, despite
Facebook’s IPO the stock markets are about unchanged with the DOW even
presently, the dollar is about unchanged, and crude is off about 60 cents a
barrel.
The outside markets scare me a little bit; but overall it
feels as if grains want to move up. Dry
weather is starting to be talked about a little more each day. Forecasts will start to be market movers.
Nothing to report for export sales this a.m.
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