Morning Comments January 5, 2018
Friday, January 5, 2018, 9:01 AM
Submitted by: Landus Cooperative
Corn steady to mixed
Beans +2 to +3
Grains trading mixed on the early morning trade with corn steady and soybeans up 3 cents. Argentina forecast a factor for stronger bean prices, as well as firmer palm oil and higher Chinese futures. News is starting to shift to the USDA report coming out next Friday. We know the US is swimming in old-crop corn supply; some are thinking the USDA could bump ending stocks even higher (closer to 2.5 billion bushels). Also worth noting US exports have been struggling on the corn end. Early surveys starting to show US producers are saying they will plant more corn acres in 2018. The ideal weather conditions this fall allowing for a lot of anhydrous to get put on, especially in Iowa, has many believing this will be true.
Dryness Continues for Plains as Drought Expands: According to the latest U.S. Drought Monitor, approximately 33% of winter wheat production is now within an area experiencing drought. Our corn market likes to follow wheat sometimes…
Please contact your local GMA to put in offers prior to the Jan 12th report.