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MARKET COMMENTARY

Morning Comments January 3, 2018

Wednesday, January 3, 2018, 10:01 AM
Submitted by: Landus Cooperative


 

Opening Calls:

Corn Steady to +1

Beans +4 to +5

 

Yesterday, March corn closed 2 1/2 higher settling at $3.53 1/4. The December contract was 2 1/2 higher closing at $3.86 1/2.  The corn market is supported by hot, dry weather in Argentina, a declining dollar and crude trading plus $60.  Weekly exports came in well within expectations but still lagging behind to hit the USDA’s mark.  The January bean contract closed 3 1/4 higher yesterday, settling at $9.55 and July was 2 3/4 higher settling at $9.86.  Soybeans are starting the year up, with strength in bean oil, and South American rain below normal.  Funds are hanging on to a large short position and could prompt a rally at some point. 

 

Next big WADSE report is out on January 12th, putting offers in might be a good way to capture some knee-jerk reactions on the top side.

 

Upcoming Events

Ventures- For the Ladies- THIS Friday Evening/Saturday at the Drury Inn in West Des Moines pre-registration accepted up to Friday and walk in’s welcomed!

http://www.landuscooperative.com/news_release/registration-now-open-for-ventures-connections-conversations-in-ag/

 

 

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2321 North Loop Dr., STE 220
Ames, IA 50010
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