Morning Comments May 3, 2017
Wednesday, May 3, 2017, 7:05 AM
Submitted by: Landus Cooperative
Corn steady to -1
Beans steady to +1
Wheat down 5 to 6
For corn, the bull/bear debate about weather continues. Bears are focused on the improving weather pattern in the Midwest and West, while bulls are focused on the potential for more rains in the South. We’re still in a fairly narrow range, though. So, until there is a consensus one way or another, we’re not going to push to the outer limits, either way any time soon.
For beans, there is still discussion about heavy rains in southern Illinois, Arkansas and Missouri. here is also a lot riding on whether or not the U.S. will plant more or less than the 89.5 million acres projected by the USDA in March.
For now, stay in touch with the markets, and if you have a level in mind that you want to sell, be sure to let us know and we’ll put in an offer for you.