Fccoop

MARKET COMMENTARY

Morning Comments November 27, 2017

Monday, November 27, 2017, 8:11 AM
Submitted by: Landus Cooperative


Opening Calls:

Corn:  Steady to 1 lower

Beans:  Steady to 1 lower

 

Friday, the December corn contract closed 3 lower settling at $3.42 1/4. The July contract was 2 lower closing at $3.71 1/4. For the week, the December contract closed 3/4 lower and the July contract closed unchanged. The January bean contract closed 4 lower Friday, settling at $9.93 1/4 and the July contract closed 3 3/4 lower settling at $10.22 1/2. For the week, the January contract closed 2 3/4 higher and the July contract closed 3 cents better.

 

Corn export sales reported Friday for the previous week were in line with trade expectations of 43.6 million bushels. Year-to-date commitments are 27% behind last year, while USDA forecasts only a 16% drop for the 2017 crop. The weekly ethanol production last week was an all-time high. The dollar traded weaker and crude oil finished slightly higher. OPEC will meet this week to discuss further production cuts for 2018. Bean export sales reported Friday of 33.2 million bushels were below market trade guesses and were a marketing  year low.

 

 

« Back

© 2018 Landus Cooperative, All rights reserved.
Landus Cooperative
2321 North Loop Dr., STE 220
Ames, IA 50010
515-817-2100
Departments
Find Landus Cooperative on
facebook icon twitter icon youtube icon blog icon