Good morning.
It's officially Autumn and it feels that way too. My favorite time of year.
Overnight soybeans have come back from 10 lower to 1 higher. Reports on Friday and over the weekend had some yields coming in better than expected and favorable weather but that $13.00 mark seems to have given the shorts a little run for their money. The low in Nov overnight was $13.0775. Soybeans were almost 5% lower last week.
Corn is lower by 2 cents and wheat is up 1. Generally a mixed bag as we get back to our trading desks this morning.
Stocks are basically unchanged as the world digests the German election results. Merkel the winner as expected has the European equities lower but not by much.
Our 10 year yield is at 2.74% to begin the week. Economic news and figures to look out for this week are home prices, GDP and Initial Jobless Claims.
Gold is lower at $1323.93 down $2.12 and oil is slightly higher at $104.87 up .12 cents.
