Morning Comments January 4, 2018
Thursday, January 4, 2018, 8:01 AM
Submitted by: Landus Cooperative
Corn down 2c
Beans down 6c
Grains lower on the open this morning with corn down 2 cents and beans 6 cents lower. The forecast for the drier areas of South America did improve a bit and that may be part of the reason why the market is seeing some struggle today. Old crop South American corn supplies have declined and has strengthened their cash corn price which should give US gulf corn a competitive advantage to help support the demand for US corn. The export sales report normally out on Thursday’s will be delayed until tomorrow. Early planted fields in Northern Brazil have now begun to harvest. Producers are reporting average yields coming in at 55 bags/hectare. That is down about 2 bags from last year.
Crude oil is at a 2 ½ year high, with an expectation that today’s crude oil report will show inventories are falling to a 2-year low. This should be supportive for our grains
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!