Morning Comments December 4, 2017
Monday, December 4, 2017, 8:12 AM
Submitted by: Landus Cooperative
After 30 minutes of trading:
Corn down 1-2c
Beans up 8c
Friday close for Dec corn up 3 cent higher @ 3.44 3/4 – soybeans 8 ½ cents higher @ 9.94 ¼. Markets are trading higher this morning due to the South America weather forecast. Precipitation is below normal for Argentina and Southern Brazil and a ridge is forming that may keep things dry. Argentina concerns with growing evidence that this winter’s La Nina maybe be stronger than earlier. Crude Oil is under moderate pressure this morning. The Ag futures Dalian Exchange were higher with soymeal jumping 2% as China. Senate passed their own version of a tax bill. Senate tax revision has a lower corporate tax rate from 35% to 20% - keeping support under the stock market. Nothing is final, but it would appear tax reform will happen late this year or early next year.
Have a great day!