11-04-2013 06:08 AM
Maybe with the report on Friday we will get some clarity of the size of this crop.
Corn is a tad higher overnight. Jan beans up 5 and wheat up 3.
A story out on Bloomberg this morning about their surveyed expectations of a 14.03 billion bushel crop. That has helped keep a lid on corn overnight. Informa and FCStone have both raised their expectations as well.
As weather improves in South America the bearish news is out weighing the bullish news.
This will be a relatively quiet week going into the report on Friday morning.
In other news the 10 year fell out of bed last week with the yield spiking to 2.61%. The dollar is little weaker this morning which should be mildly supportive to commodities.
Gold is up $1.84 to $1318.04 and Oil is unchanged.
Equities will continue their march higher this morning until we get the jobs number on Friday.