Morning Comments January 18, 2018
Thursday, January 18, 2018, 8:01 AM
Submitted by: Landus Cooperative
Corn steady to lower
Beans down 1 to 2
The corn and bean market are trading slightly lower this morning as we see a lack of fresh news yet again. Follow-through buying for corn is lacking despite closing above the 50 day moving average yesterday for the first time in almost 3 months. The weather outlook for South America is similar to yesterday’s run, with limited rainfall being seen for Argentina through the week and weekend. Meanwhile, close to average rains are seen for most of Brazil over the next 7 to 10 days with some areas above average. The dry conditions across Argentina have local analysts reducing the size of the Argentina corn crop to 38.3 MMT versus the current estimate of 39.9 MMTs.
The weekly USDA export sales report normally out on Thursday will be delayed until tomorrow because of the MLK holiday Friday.
Reminder: Innovator Meeting today at 5x80 near Menlo.
Next week: Tuesday at Thompson; Wednesday at Greene and Thursday at Parkersburg.
Registration begins at 3:15pm with the meeting starting at 3:45pm.
Hear updates from our grain, agronomy, and precision teams.
Social hour to follow! Please call to RSVP at (887) 778-2226.
Do you have a senior graduating high school? Check to see if your son/daughter is eligible for a $2,000 scholarship opportunity here.