Morning Comments January 27, 2017
Friday, January 27, 2017, 2:01 PM
Submitted by: Landus Cooperative
Grains closed lower yesterday on improved expectations for South American crops and a slightly higher U.S. dollar. Corn felt pressure from U.S. trade deals, especially with Mexico after their president cancelled a visit to the U.S. next week. The concern for this is real: Mexico is a major importer of U.S. corn taking roughly 30% of our total exports.
Grains trading steady to lower this morning with very little news. Soybean market factors include a large U.S. carryout, large Brazilian bean crop, and potential trade problems with foreign countries. The corn market is generally supported by good export demand, steady ethanol production, and the concern of fewer corn acres in 2017. For now, continue to expect a fairly narrow trading range for both corn and beans.
Beans- Steady to a penny lower
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