Morning Comments February 9, 2017
Thursday, February 9, 2017, 8:02 AM
Submitted by: Landus Cooperative
Corn: Several news sources are indicating that China will be increasing their demand while reducing their planted corn acres. December 2017 corn futures closed yesterday at levels we haven’t see in the past 6 months. It is now testing psychological resistance levels at close to $4.00.
Beans: Currently there are weather issues in Argentina and talking more rains and potential flooding this weekend. China continues to buy a lot of beans from the U.S. Bears are continuing to say hold on because there is increased production numbers coming out of Brazil.
USDA report is out at 11 a.m this morning. Trade will be watching this report closely. We will update when we have numbers.
Beans 1-3 lower