Morning Comments August 4, 2017
Friday, August 4, 2017, 8:08 AM
Submitted by: Landus Cooperative
Corn +2 to +3
Beans +1 to +2
The corn and bean market are trading a bit higher this morning. The weather continues to be non-threatening with moderate temperatures, but little rain for the central Corn Belt should be somewhat supportive for now. Informa was out with their yield estimates yesterday, pegging the U.S. corn yield at 165.9 bu/acre and production at 13.85 billion bushels. This is down 400 million from the USDA’s July estimate.
Soybeans sold off again yesterday due to light rain that fell in Iowa. Traders are still uncertain about yield for beans but the consensus at this point seems to be that the bean yield will come in between 47 bu/acre and 48 bu/acre (trendline yield). Informa’s estimates for soybeans came in at 47.3 bu/acre giving us a total crop of 4.196 billion bushels vs. the last USDA estimate of 4.260 billion bushels.
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.