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MARKET COMMENTARY

Morning Comments November 16, 2017

Thursday, November 16, 2017, 8:11 AM
Submitted by: Landus Cooperative


Opening Calls:

Corn steady

Beans steady to up 1

 

Good morning!

 

The markets aren’t seeing much movement this morning, with corn up a penny and beans steady. The December corn contract had an overnight trading range of just 3/4 of a cent, while the January bean contract had a 4 cent range. Open interest continues to rise in corn, reaching the highest level in 10 years: 1.7 million contracts.

 

The bean market rallied yesterday on short covering and NOPA crush came in with a neutral report but showed that oil content of this year’s crop is below last year, helping give the bean oil market a boost. Rains across Northern Brazil have helped bring soil moisture back to life and Brazil has now planted 68% of their crop (still lagging behind last year’s 73%).

 

More darkness every day, temps continue to get colder, and yet there is still a lot of field work to do, please continue to be safe in all that you do.

 

 

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