Morning Comments April 18, 2017
Tuesday, April 18, 2017, 8:04 AM
Submitted by: Landus Cooperative
CORN: steady to down 1
SOYBEANS: down 5 to 6
Corn planting is off to a slow start. As of Sunday, corn is estimated at 6% planted. Last year at this time we were 12% planted and average at this time of the year is 9%. While the 7-10 day forecast has the Midwest receiving rain, most traders are aware that the U.S. farmer can plant a lot of acres if/when the climate is right, and they believe it’s still somewhat early, so they are being patient.
Argentina soybean harvest will be progressing at a fast pace in the near term. Weather has changed, so it is allowing farmers to get back into the field. Their harvest is at 9% complete, compared to usually being at 23% harvested.
A wise marketer once told me this is the season of “too too’s”... Too much rain, too little rain, too cold, too hot. Have your offer contracts in place to take advantage of these markets.
Landus Cooperative has a 2017 Non-GMO soybean program. Premiums over $1.00 per bushel for harvest delivery and/or farm stored “buyers call”. Please contact your local Field Sales Agronomist or Grain Marketing Advisor for complete details.