Morning Comments January 3, 2018
Wednesday, January 3, 2018, 10:01 AM
Submitted by: Landus Cooperative
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.
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!