Morning Comments November 7, 2017
Tuesday, November 7, 2017, 8:11 AM
Submitted by: Landus Cooperative
Corn unchanged to down 1
Soybeans down 1 to 2
December corn futures closed fractionally lower yesterday. The Export Inspections report showed weekly exports down 18.78% for the week, less than half the total for this time last year. The most likely reason for this is the record South America crop that is still being shipped. U.S. corn harvest is 70% complete according to the Crop Progress report.
January soybean futures rebounded a little from Friday, and started the week with some strength, closing 7 cents higher on Monday. Soybean exports are also down slightly from last week and this time last year. U.S. soybean harvest is 90% complete.
Keep in mind that there is a USDA WASDE report coming out on Thursday. There are several private estimates out already, with most expecting a slight increase in corn yield, and a slight decrease in bean yields vs. the October report. Please contact us if you’d like to sell some grain or get some offers placed prior to the report
As your deliveries come up on their 20 days, talk to your Grain Marketing Advisor about the different marketing programs Landus Cooperative offers. Extended Price, Bonus Premium and Start to Finish are new this year, and we want to make sure you know about them.