Morning Comments December 22, 2017
Friday, December 22, 2017, 8:12 AM
Submitted by: Landus Cooperative
Beans: 3-4 cents higher
Grain market is mixed so far this morning due to lack of fresh news. We did see a bean export sale to China this morning of 252,000 tons for 2017/18. Looking at a summary of the week, bean futures lost another 18 cents while corn futures are 4 cents higher. The South American weather outlook has rains finishing up in Argentina with a drier trend in store for the weekend and most of next week until showers return next weekend. Southern Brazil will see average to above average precipitation for this weekend through much of next week while northern Brazil also sees average to above average moisture through the next 10 days. Looking at the U.S. weather, yesterday’s Drought Monitor showed the area of the U.S. suffering conditions that range between abnormally dry and exceptional drought continues to grow. 56.74% of the U.S. is experiencing some level of drought, up from 54.91% a week ago and 42.66% a month ago. We could use some precipitation!
Reminder: The markets will close today @ 12:05 and won’t resume trading until Tuesday morning.
Wishing you all a Merry Christmas, enjoy the time spent with family and friends!