Morning Comments Aug. 10, 2017
Thursday, August 10, 2017, 8:08 AM
Submitted by: Landus Cooperative
Corn barely managed to stay in the black overnight, closing .25 up, with soybeans being the leader closing 4.75 up. They are both waiting to see what happens with the USDA WASDE report out at 11 am this morning. Corn and bean yields are expected to come in lower than July, with corn seeing the biggest move down. Outside markets are mixed with crude oil up, along with the USD, while equities are trading lower.
As far as weather goes, which has been the major driver of markets here lately; wet conditions will continue over the Delta and Southern Plains over the next several days, while the Midwest remains mostly dry.
The Farm Service Agency will release acreage data for 2017 this afternoon, that will be interesting to see how it stacks up against USDA estimates.
Corn and soybean exports were both lower last week from the previous week, coming well below expectations for this marketing year, while next marketing year export were well above the previous week and well above expectations.
Today could be a bumpy ride depending on the numbers that come out of this report, hopefully they give us some good news to trade off of!
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.
Member Town Halls continue this week. Check the schedule here: http://www.landuscooperative.com/news_release/landus-cooperative-members-invited-to-august-town-halls-aug-7-17/
We also have a new mobile app available for download on your smart phone! Search “Landus Cooperative” on the Apple or Google stores for the free download. Today it include cash and futures prices as well as weather. Coming soon will be harvest hours, scale-to-scale times and more. It’s free!
Thank you for your business and have a great day!