Good morning. A short covering rally developed overnight and has pushed grains and soybeans higher. The Dollar is slightly weaker this morning in front of the expected rate hike announcement by the Fed early this afternoon. Crude oil is higher this morning. Talk that China has purchased at least three cargoes of U.S. corn for late spring/early summer shipment is modestly supportive to corn but most feel that any further Chinese corn purchases will mainly be made from
Monthly Archives: March 2017
Good morning. Corn and wheat are showing slight losses with soybeans down about 6 cents this morning. Chinese corn, soybean, and veg oil markets were lower today as were Malaysian palm oil futures. Oil is slightly lower and the Dollar is stronger ahead of the start of the 2 day Fed meeting which most believe will result in a 1/4 % rise in short term interest rates. Today is the last day of trading for March 2017 contracts.