Morning Comments February 8, 2017
Wednesday, February 8, 2017, 7:02 AM
Submitted by: Landus Cooperative
Yesterday’s rally came on Chinese Trade, strong demand and fund buying. Some of that also carried through last night’s trade.
With yesterday’s close in the corn market, corn is at a 2 week high nearby. Ethanol demand and fund buying continue to give support to corn.
Soybean market continues to watch South American weather. Tomorrow, Brazil will release production estimates and the trade will be paying attention to those numbers. We’ll also see the latest USDA reports. That report will be out at 11:00 a.m Central time.
Beans 5-8 higher