Morning Comments December 1, 2017
Friday, December 1, 2017, 8:12 AM
Submitted by: Landus Cooperative
Corn: steady to 1 higher
Beans: 2 to 3 higher
Thursday, the December corn contract closed 2 3/4 higher finishing at $3.41 3/4, while the July contract was 1 3/4 higher at $3.71 1/2. There are some concerns about Argentine rainfall today. The EPA came out yesterday and said that they will maintain U.S. conventional biofuel mandates at 15 billion gallons.
The January bean contract closed 6 3/4 lower yesterday at $9.85 3/4 and July was 5 3/4 lower at $10.17 1/4. The dollar index closed lower yesterday, and is trading lower this morning. January crude oil contract is trading just below $58.00, unchanged from yesterday.
Reminder, today is December 1st and is the last day that the harvest excess weight program is in effect. After today, normal DOT limits are back in place at 80,000 pounds.