December 16, 2015
Grain Marketing Specialist
Traders move to the sidelines today and wait for the Federal Reserve to announce if they will raise interest rates. This will be at 1pm CDT.
Lack of news keeps corn range bound between $3.70 and $3.80 March futures. Weekly ethanol numbers will be out at 9:30 am.
USDA announced, yesterday, 4.4 million bushels of soybeans sold to China. South American weather remains rainy and warm. NOPA used 156.1 million bushels of soybeans last month. This was below expectations. Support is at $8.63 Jan futures.
Lack of demand news, and hope that the dollar will ease if interest rate is raised keeps wheat steady this morning. Precipitation moving across the Plains this week. 6 to 10 day forecasts continue to show above normal temps and precipitation.