Morning Comments July 21, 2017
Friday, July 21, 2017, 8:07 AM
Submitted by: Landus Cooperative
Corn -6 to -7
Beans – 7 to -8
A fairly wide swath of rain in some of the drier parts of the Western Corn Belt overnight pressured the CBOT. In Iowa, we’re hearing anywhere from 1 to 4 inches of rain overnight. More scattered rain in the forecast along with some cooler temps early next week will keep some pressure on the corn and soybean markets. Even with prices down overnight, for the week, we’re up almost a dime on corn, and close to 20 higher on soybeans. Winter wheat is off 5-10 cents this week, while Spring wheat is up 20 or more.
Outside markets are showing the U.S. dollar and crude oil down slightly (-35 cents/barrel).
We continue to believe this is a good opportunity to finalize old crop sales, especially corn. We are within one month of the deadline to price any/all price later grain, so if you have some left to price, please contact us and understand all of the parameters. You can also place a firm offer to sell at a level if you’d like. Call your local Grain Marketing Advisor, or any of our grain marketing folks in Ames at (877) 778-2226.