Daily Market Commentary
May 26, 2017
Will there be any support heading into the three day weekend? There are a lot of weather models that will come out starting this morning thru the Memorial Day weekend. Will traders add any premium in anticipation of extended rain and lack of planting progress? I would expect some premium, but nothing significant as traders will most likely wait to see what has happened and what the forecasts are on Tuesday when they return to the market.
Weekly export sales came in below expectations and the 10 week average for corn again this week. Soybean exports were ahead of last week. These numbers may decline with negative crush margins in china and another cancelation this morning of US cargos.
Look for trade to be choppy with reduced volume today ahead of the long weekend.
Didion will be closed on Monday 5/29/17 in observance of Memorial Day. We will re-open at 7am on Tuesday 5/30/17.
Have a Safe Memorial Day Weekend!