Morning Comments November 8, 2017
Wednesday, November 8, 2017, 8:11 AM
Submitted by: Landus Cooperative
Corn down 1 to 2 cents
Soybeans up 1 to 3 cents
Corn futures closed down slightly Tuesday night, while soybeans closed up slightly. Traders are keeping a fairly neutral stance ahead of the USDA’s report.
November’s WASDE will be out tomorrow morning at 11:00 a.m. Analysts are expecting an increase in the U.S. corn yield 0.6 bpa to 172.4, moving production up to 14.327 bbu. Soybean yields are expected to be down again to 49.3 bpa, dropping production to 4.408 bbu. Similar to last month’s report, any numbers outside of the range of estimates will cause a reaction from the funds.