Landus Cooperative Morning Comments June 5, 2017
Monday, June 5, 2017, 8:06 AM
Submitted by: Landus Cooperative
Corn trading 1-2 cents higher
Soybeans trading 1-3 cents higher
Corn traded steady to lower overnight, but turning positive towards the end of the session. We saw corn close higher on Friday, which was thought to be led by buying. Lots of debate amongst the trade about crop conditions and what the effects of the cold and wet weather has had on the crop. CFTC report released Friday showed that funds were net short 200,981 contracts as of last Tuesday.
Beans traded mostly lower overnight, but also turned positive as the night session closed. Beans closed 9 cents higher Friday, recovering some of the losses it took earlier in the week. The rally was led mostly by buying across the entire soy complex. On Friday, the CFTC report showed that funds were net short 89,310 contracts of beans as of last Tuesday. Beans are now considered to be oversold, which should help add support to the bean complex. Doesn’t necessarily mean we will see a rally, but should limit downside moves.
Crude oil is trading slightly lower this A.M., and the US dollar index is higher. These are both negative towards grain markets.
Landus Cooperative is sponsoring a Brock Associates seminar on June 26th. Join us at the Wild Rose Casino in Jefferson for an afternoon of farm information from several valuable speakers. Registration opens at Noon followed by sessions on land value outlook,
weather and marketing outlooks, and managing risk with marketing. Pre-Registration is free, but you need to contact us. Just call your local Landus Cooperative location, local GMA or dial 877-778-2226 for registration. More details can be found at:
Then, just click on the “Jefferson, IA” link at the top of the page.