Morning Comments September 15, 2017
Friday, September 15, 2017, 8:09 AM
Submitted by: Landus Cooperative
Corn steady to 1 lower
Beans down 3 to 4
Both corn and beans are trading lower this morning, giving back some of yesterday’s gains. Prices still appear stuck in a trading range as burdensome supply, harvest pressure, and a healthy forecast keep a cap on most rallies. There is starting to be some chatter about weather conditions in South America being problematic for their early planted acres. More specifically, Brazil is too dry and Argentina is too wet. Something to watch as we move further into their planting season.
Several sources are still hesitant about the USDA’s estimate on yields. It appears the fall low is likely in, unless yields come in significantly higher than what is currently being considered. Harvest has just started in the Corn Belt, but traders will be watching and listening closely for any yield estimates as producers roll across their fields.
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