Morning Comments July 28, 2017
Friday, July 28, 2017, 8:07 AM
Submitted by: Landus Cooperative
Corn: unchanged to 1 cent higher
Soybeans: unchanged to 1 cent lower
A disappointing export report, for corn, was released yesterday proving that South American sales competition will continue to be a problem for U.S. corn up through October. With little rain forecasted, it may be interesting to see how the trade wants to position itself going in to the weekend.
Soybeans benefited from the export report showing a 17% increase in sales compared to last year, a record. Expect to see weather premium put back in the market if we do not see some precipitation soon as drought conditions continue to spread further in to Iowa and Nebraska.
**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.