Morning Comments November 9, 2017
Thursday, November 9, 2017, 8:11 AM
Submitted by: Landus Cooperative
Corn unchanged to up 1 cent
Soybeans up 2 to 3 cents
Dec. corn futures closed up ½ cent yesterday at $3.48 ¼. Jan. soybean futures closed up 2 ½ cents yesterday at $9.98 ½. Traders and producers alike are holding their breath until the WASDE report comes out at 11:00 a.m. today.
We will also be watching USDA’s numbers for South America’s 17/18 corn and soybean production. Analysts are expecting Brazil’s corn production will be down and their soybean production to be increased. Overall, analysts are looking for world ending corn stocks to be increased 0.22 MMT to 201.18 MMT, and soybean stocks to be 0.55 MMT lower to 95.5 MMT. We are looking for deviations from these numbers to move the market.
It’s still not too late to get some offers in ahead of the report! Call your local GMA or the Ames trade floor at (877) 778-2226.