Morning Comments March 7, 2017
Tuesday, March 7, 2017, 8:03 AM
Submitted by: Landus Cooperative
Corn 1-2 cents lower
Soybeans 3-5 cents lower
After an initial spike higher, both corn and soybeans finished the overnight session lower. Corn was down 1-2 cents with little bullish news. Beans ended 3-5 cents lower after the weak close yesterday. One bearish item for corn is that there are no serious issues with South American production. The Brazilian safrinha crop is mostly planted and looking good. For soybeans, there is speculation that the USDA may reduce U.S. soybean export estimates due to higher production in South America. That being said the trade is anticipating a neutral WASDE report on Thursday, so any surprises would certainly have an impact on prices.
This week starts our guest speaker series. We will be hosting a different grain analyst every Wednesday through the end of March. Tomorrow is Joe Camp of AgriVisor. Joe always brings a fresh perspective to market discussions. Please consider joining us in Templeton. RSVP at 877-778-2226.
Yesterday kicked off our town hall meetings for members and customers. There are several meetings throughout this week and next. See the website for complete details, times and locations.