Grains looking up to start Monday
Category: Grains
(Agriculture.com) – After an extended period of lower markets around the world, the grains are seen turning higher to start the week, sources say.
Early calls for the commodities are corn 10-12 higher, soybeans 13-15 higher and wheat 10-12 higher, according to private sources.
Outside markets are more favorable for the grains so far Monday, and after several days of trading in the red — namely in the equity markets — the markets are looking for any good news. That includes the grains, according to ICAP Energy LLC Derivatives Manager Scott Shellady.
“We have had some decent sale figures from the weekend. Equities have been down seven days in a row and I think that the market was thirsty for ANYTHING not negative,” Shellady says. “The world is soaring on hope this morning.”
