Market report for May 17, 2013

Global markets are trading higher this morning as investors expect healthy US consumer sentiment data to be released later this morning.
 
The Canadian dollar has been in retreat overnight following comments from the US central bank indicating that their monetary easing program could cease as early as this summer. Our dollar is currently trading at $.97
 
Crops:
Corn has some downward price momentum this morning as it is likely that this week will mark a US corn planting record, according to Agrimoney.com Soybeans are trading higher in the early session as yesterday’s USDA export showed that China purchased 79% of the US soybeans sold last week, confirming an increase in demand, and a growing belief that the push in corn plantings will have a negative impact on soybean production, according to a commodities analyst quoted in Bloomberg Financial.
 
Disclaimer: This commentary is provided for information only and is not intended as advice.