Morning Comments November 15, 2017
Wednesday, November 15, 2017, 8:11 AM
Submitted by: Landus Cooperative
Corn steady to slightly higher
Beans + 3 to 4
Grains markets are higher this morning while soybeans find mild buying support following the sharp losses that we have seen over the last couple days. Favorable weather conditions in South America continue, and Argentina’s dry trend is starting to gain attention. The December through February South American climate outlook will be updated tomorrow morning and traders will be watching to see if La Nina will occur.
Selling pressure has caused the both the corn and bean market to move lower than their support levels, and now momentum indicators are both pointing lower for both.
NOPA October soybean crush will be released at 11:00 a.m. The average trade estimate for today shows processors crushing 164.475 million bushels versus 164.641 a year ago.
Have a great day!