Morning Comments September 14, 2017
Thursday, September 14, 2017, 8:09 AM
Submitted by: Landus Cooperative
Corn +1 to +2
Beans +5 to +6
Yesterday, the December corn contract closed unchanged settling at $3.51 1/2. The July contract was 1/4 cent lower closing at $3.78 1/4. It feels like the traders are still trying to come to terms with the most recent WASDE information. We are a little higher this morning, and early information says that the small amount of actual harvest results have been a bit disappointing. Actual harvest results are what the market is looking for at this point.
The November bean contract closed 10 cents higher yesterday, settling at $9.60 1/2 and the July contract closed 8 1/2 cents higher, settling at $9.94 3/4. Yesterday erased all of the losses from Tuesday’s action due to the WASDE report. The concern is with the USDA’s pod weights. gain, actual harvest results will be key to market direction over the next 30+ days.
A quick note about safety. As we enter into this busy time, please take a moment each day to discuss safety with your team and work toward finishing the day in the same health that you start each day.