Morning Comments October 17, 2017
Tuesday, October 17, 2017, 8:10 AM
Submitted by: Landus Cooperative
Corn trading 1-2 cents lower
Soybeans trading 5-6 cents lower
Good Morning, Corn traded lower on the overnight session. Trade hearing of better than expected corn yields and disappointing exports, both of which are adding pressure to the corn market. US corn harvest was reported at 28% complete vs 47% average. Iowa at 13% complete vs 41% average.
Beans also traded lower on the overnight session after a weak close yesterday. A wetter forecast for Brazil and a dryer forecast for the US factored into yesterday’s downside. Bean harvest for the US reported at 49% complete vs 60% average for this time of year. For Iowa we are only 32% complete vs the 66% average.
Hopefully, we can keep the sun shining and the rains away for a while and catch up on Harvest progress.
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Please, be safe out there