SubscribeDaily Futures Commentary COMMODITIES March 25, 2009
Wednesday, March 25, 2009
GRAINS
The direction of the grain complex is likely to be dictated by the Dollar today. A stronger Dollar should put pressure on the market as it will lead to less demand. In order to maintain the current demand driven rally, the Dollar has to weaken.
Expectations of an increase in planted soybean acres could put pressure on May Soybeans. Farmers are expected to plant more soybeans this spring because of the high price.
May Corn could find support this morning because of potential supply issues. Farmers are expected to plant less acres which could limit any losses from a stronger Dollar. Weaker crude oil could also pressure this market as demand for bio fuels could wane. Holding $50 in crude will be important to the ethanol market.
May Wheat could feel pressure today from a stronger Dollar. Timely rains and an oversupply of inventory could put additional pressure on this market.
SOFTS
The mixed Dollar may lead to mixed results in the softs complex today.
May Cocoa is …
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