Published on 04-16-2013
Grains All Higher at Midday
Grains are mostly higher at midday off rebounding outside markets and cool wet planting weather.By David Fiala DTN Contributing Analyst
General Comments
The U.S. stock markets are higher with the DOW futures up 90. The interest rate products are higher. The dollar index is 34 lower. Energies are lower with crude down $0.80. Livestock trade is mixed. Precious metals are higher with gold up $28 after yesterday’s violent selling.
CORN
Corn trade 6 to 9 higher on old crop and 2 to 4 higher on new at midday with commercial buying noted. Weather looks to keep everyone out of the field in the near term with hints at a pattern change at the end of the month. Planting progress was reported at 2% complete, below expectations of 4-5% and 6-7% normally. Ethanol margins have compressed with the slide in the energy complex but should still be positive in the near term. Corn has nearby support at $6.43 and has been able to hold it so far. The spreads have remained very firm as well.
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http://sweetfutures.com/2013/dtn-midday-comments-on-grains-3/
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