Morning Comments July 27, 2017
Thursday, July 27, 2017, 8:07 AM
Submitted by: Landus Cooperative
Corn: 2-3 cents higher
Soybeans: 7-8 cents higher
Yesterday’s rain event was not as impressive as many had hoped. Momentum indicators are reaching oversold levels, which is triggering some buying in the corn market. The recent drought monitor released this morning shows Iowa increasing abnormally dry levels by over 5%.
The current weather models are taking rain chances out of the forecasts, generating some buying interest in the soybean market. There seems to be a lot of concern over the height of this year’s soybean crop; many fields out there are harboring short, short soybean plants thus far.
**Reminder to anyone that has grain on a Price Later contract with Landus Cooperative.
Our pricing deadline is fast approaching and we have established our roll over rates as follows:
Corn 8 cents/bushel
Beans 4 cents/bushel
PLUS approximately 3 cents/bushel per month for both (this is prorated daily).
If you have not signed the proper paperwork to roll it over by the deadline, it will be priced, the check will be sent, and it will be too late to defer the payment.
PLEASE make sure you communicate with us if you want to do anything other than have it automatically priced and a check sent to you.
Call your local office, your Grain Marketing Advisor, or our grain buyers in Ames (877) 778-2226 if you have any questions.