Morning Comments January 30, 2018
Tuesday, January 30, 2018, 8:01 AM
Submitted by: Landus Cooperative
Corn 1 to 2 higher
Soybeans 1 to 2 higher
Wheat 5 to 10 higher
Once again this morning wheat is leading the charge. Some of the positive movement is technical buying/short covering and a drop in winter wheat ratings.
Yesterday, cash corn closed thru above the 100 day moving average and March futures are trading though the previous highs from early December. Corn and wheat are both trading at highs that haven’t been seen since November on corn and October on wheat.
Argentina weather concerns continue this morning. Still little or no rain forecast for next 10 to 15 days. Parts of Brazil are forecast dry for next 5 to 7 days.
6th round of NAFTA negotiations ended yesterday with enough momentum that they will meet again for the 7th time in February in Mexico City.
Iowa Power show starts today and runs through Thursday. Landus Cooperative has a booth all 3 days, stop by and see us!
Also, averaging contracts are available on old crop corn and beans against July futures and new crop corn and beans for fall 2018, this is a great marketing tool! Talk to your GMA today.