Morning Comments July 31, 2017
Monday, July 31, 2017, 8:07 AM
Submitted by: Landus Cooperative
Corn down 5 to 6
Soybeans down 12 to 14
Markets are on the defensive side as cooler weather moves across the Midwest. Traders expect USDA to show another 1-2% decline in conditions and are trying to see how yields will be compared to last year. Current estimate for corn yields are 162 – 166 bu. per acre.
With August weather being the key for soybeans, there are a wide range of thoughts for final crop size. This will continue to add a level of volatility to soybean prices.
August 10th will bring the next WASDE report, which the trade will be checking closely to gauge USDA’s current thoughts on crop size. August will also bring crop tours across the U.S. in various forms. These will be monitored very closely as well.
Landus Cooperative is hosting a series of member town hall meetings across the territory August 7-17. Be sure to check and see when the meeting closest to you is. Also, RSVP to your local Landus Cooperative location. More details: http://www.landuscooperative.com/news_release/landus-cooperative-members-invited-to-august-town-halls-aug-7-17/
**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.