Morning Comments May 11, 2017
Thursday, May 11, 2017, 8:05 AM
Submitted by: Landus Cooperative
Corn: -1 to -2
Soybeans: steady to +2
With the WASDE report out of the way, the focus is now on US weather/planting progress and South American production. The WASDE report showed U.S. Corn Ending Stocks of 2.295 billion bushels for the 16/17 crop year and 2.110 for the 17/18 crop. U.S. Soybean Ending Stocks are estimated at 435 million for 16/17 and 480 for 17/18.
It appears Brazil will have no major problems with their crop the final numbers are also expected to be big.
The dollar is slightly weaker this morning and crude oil is slightly stronger.