An image of a pen on a stock chart
Markets

Pre-Opening Soy Complex Market Report 01/10

March soybeans are trading nearly unchanged at 7:30 am cst. There were no January soybean meal deliveries bringing the month-to-date total to 48. Soybean oil deliveries totaled 704 bringing the month-to-date total to 15,673. There were no soybean deliveries. Malaysian Palm Oil futures fell to a 3 week low overnight after data showed Jan 1-10 palm exports fell 25% from December. Mainland Chinese shares were higher overnight, while Hong Kong shares reached up toward 19 month highs. Chinese trade data has apparently fostered some positive macro-economic vibes overnight and that in turn has trickled into other geographical regions. European shares were also a touch higher off favorable Euro zone debt auction results from Spain and Italy. The markets are waiting on statements from the ECB meeting, but the trade isn't expecting major surprises from that front. All things considered, news of a sharp jump in Chinese exports for December probably improves global sentiment, as that suggests some portions of the world have been able to struggle back to life. The US scheduled report slate today contains the most significant data of the week, in the form of initial claims, which are expected to post a minor decline.

Read More on International Business Times

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities