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MARKET COMMENTARY

Morning Comments January 11, 2018

Thursday, January 11, 2018, 8:01 AM
Submitted by: Landus Cooperative


Opening calls:

Corn unchanged to down 1

Beans up 1 to 2

 

Good morning!

 

 

Corn markets are staying steady ahead of tomorrow’s report, closing mostly unchanged yesterday. Soybean contracts closed 8 to 9 cents lower Wednesday, as anticipation of a bearish report continues to build. South American weather remains favorable, another reason for unchanged/downward markets. All in all, everything will most likely remain fairly neutral until the numbers are released at 11:00am on Friday.

 

In addition to yield and production numbers, stocks are going to be an important consideration in how the markets move tomorrow:

USDA December 1 Corn Stocks (Range of Estimates)

Average Estimate: 12.431bbu (12.230-12.675bbu)

Last year: 12.386

USDA 2017/18 Corn Ending Stocks (Range of Estimates)

Average Estimate: 2.422bbu (2.263-2.550bbu)

USDA previous: 2.437

Last year: 2.295

 

USDA December 1 Soybean Stocks (Range of Estimates)

Average Estimate: 3.181bbu (2.963-3.305bbu)

Last year: 2.898

USDA 2017/18 Soybean Ending Stocks (Range of Estimates)

Average Estimate: 474mbu (420-595mbu)

USDA previous: 445

Last year: 301

 

 

Innovator’s Workshops are happening over the course of the next few weeks! You can RSVP to your FSA or GMA, or call the Trade Floor at (877) 778-2226.

 

City

Venue

Date

 

 

 

Jefferson

Wild Rose Casino

Tuesday, January  16th

Templeton

Templeton Center

Wednesday, January 17th

Menlo

5×80

Thursday, January 18th

Thompson

Branding Iron

Tuesday, January 23rd

Greene

American Legion

Wednesday, January 24th

Parkersburg

Legend Trail Golf Course

Thursday, January 25th

 

 

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Ames, IA 50010
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