Wheat and corn surging this morning on the back of a reduction in stocks. The lingering questions I have is “How much will be sold at these price levels?” Recent export sales number revealed a mere 400 metric tons of corn sold in the previous week. Will be looking closely over the next few weeks to see how sensitive price is to weekly export sales numbers.
Early trading prices (per bushel unless otherwise stated)
|Oct 2012||Soybean Oil (Metric Ton)||$51.6200||-0.4900|
|Oct 2012||Soybean Meal (Metric Ton)||$475.5000||+2.3000|
AM Commodities Report
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