E Hedger Morning Grain Commentary 4/23/10
1. Overnight trade was lower for corn, beans, and lower for wheat.
2. May options expire at today's close.
3. Informa pegs 2010-2011 US corn production slightly above last year's record 13.13 bil, beans at 3.342 vs. 3.359, wheat off 8% from last year's 2.2 bil.
4. US March durable goods orders fall unexpectedly by 1.3%, the biggest drop since August; but ex-transportation, durable orders jumped 2.8%, the largest gain since December 2007.
5. Trading in DDG futures starts Wednesday, Apr 26, 2010; link for info on contract specs :
6. Greece formally requests lifeline for aid; details on IMF-EU package still have to be worked out; possible objections could derail the final bailout.
7. As of this writing the stock market is unchanged while the dollar index is sharply higher. Crude oil is trading lower while gold is trading $6.00 lower.
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