Morning Comments August 8, 2017
Tuesday, August 8, 2017, 8:08 AM
Submitted by: Landus Cooperative
Corn steady to +1
Beans +7 to +8
Surprise! The weather has shifted to a drier outlook for the Midwest which continues to push grain higher.
November soybeans are now trading over the 50 and 100 day moving averages, with outside markets supportive with crude trading slightly higher and the U.S. dollar trading lower. Crop conditions report yesterday afternoon showed a 1% decrease for corn putting that at 60% G/E and soybeans saw a 1% increase, up to 60% good/excellent.
Overall there is little fresh news in the market place so we're just treading water ahead of the WASDE report coming out Thursday at 11 a.m. The dry/cool forecast is supportive of commodities today. Weather continues to be the big driver, Thursday's report will bring some more news to the table.
Landus Cooperative is hosting member town hall meetings August 7-17. Be sure to check and see when the meeting closest to you is. RSVP to your local Landus Cooperative location. More details: 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.
Have a great day!!