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MARKET COMMENTARY

Morning Comments January 10, 2017

Tuesday, January 10, 2017, 2:01 PM
Submitted by: Landus Cooperative


Corn -

Overnight trade was lower taking back yesterday’s gains.  On Monday’s close, corn finished up 2 cents on the March and December.  Yesterday USDA announced a corn export sale to unknown destinations.  Funds also bought 2,000 contracts. Both of these helped support the market. 

 

Soybeans -

On Monday, March beans closed + 10 1/2 and November was + 11 1/2.  South American weather is still something to keep an eye on.  Overnight, March beans were down 4 1/2 and November was off 2 1/2.  Brazil’s CONAB released their latest soybean production estimates this morning, showing a record 103.8 MMT, up 1.36 MMT from December’s estimate.  The Dalian Exchange was down overnight, also putting pressure on beans.

 

Opening calls:

Corn down 1 to 2

Beans down 2 to 3  



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