Morning Comments June 9, 2017
Friday, June 9, 2017, 8:06 AM
Submitted by: Landus Cooperative
Corn: 1-2 cents lower
Soybeans: 1-2 cents higher
Corn trading slightly lower this morning after experiencing high volatility during yesterday’s trade. Today we will see the release of the monthly WASDE report at 11 a.m. Trade seems to be more focused on current weather concerns more than the report, though. Any surprises could still add some volatility today’s trade.
Soybeans trading higher this morning with not much news to report. Trade is concerned that the late planted beans haven’t received any rainfall since they were put in the ground. CONAB increased the Brazilian bean production slightly yesterday to 113 MMT. Previous estimates were 112.3 MMT.
There has been quite a little corn sold in the past few days, and basis is under pressure. If you are wanting/needing to get some Old Crop corn sold, we’d suggest locking in the basis and/or leaving an offer for the price you’re wanting. Let us know how we can assist your grain marketing plan.