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MARKET COMMENTARY

Morning Comments September 26, 2017

Tuesday, September 26, 2017, 8:09 AM
Submitted by: Landus Cooperative


Opening Calls:

Corn: steady to lower

Beans: -2 to -3

 

Yesterday, December corn closed 1/4 cent higher settling at $3.53 3/4. The July contract was 1/4 cent higher closing at $3.81 3/4.  Crop ratings improved slightly in some states, see below.

November beans closed 13 lower yesterday, settling at $9.71 1/4 and July closed 11 3/4 lower, settling at $10.06.  10% of soybeans are said to be harvested in the U.S. according to the USDA, slightly behind normal.

 

The dollar is trading higher this morning at 92.65. The momentum in the dollar is pointing higher.  Crude oil is trading lower. The November contract is trading just below $52.00.  

 

Yesterday’s Weekly Crop Progress Ratings:

 

Corn Crop Condition Rating (% rated good/excellent) 

National: 61% vs. 61% last week and 74% last year

Iowa: 59% vs. 59% last week

Illinois: 52% vs. 52% last week

Nebraska: 67% vs. 62% last week

Minnesota: 81% vs. 81% last week

Indiana: 53% vs. 52% last week

 

Bean Crop Condition Rating (% rated good/excellent)

National: 60% vs. 59% last week and 73% last year

Iowa: 60% vs. 58% last week

Illinois: 56% vs. 53% last week

Minnesota: 71% vs. 72% last week

North Dakota: 52% vs. 48% last week

Indiana: 53% vs. 52% last week

 

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