Morning Comments February 2, 2018
Friday, February 2, 2018, 8:02 AM
Submitted by: Landus Cooperative
Corn steady to down a penny
Beans down 5 to 10
Wheat down 4-7
Phil saw his shadow this morning, so looks like 6 more weeks of winter.
U.S. dollar posed a new 4 year low yesterday, and this morning is showing some firming up.
Farmer selling of corn and beans has slowed the past couple of days with the futures market falling backwards.
Soybeans have been weaker this morning with talks of wet weather coming in the 5-10 day for Argentina and Brazil.
Trade will also be watching these forecasts, because temperatures in the 1-5 day are calling for 100+ temperatures in Argentina and Brazil prior to the rain.
Corn has found some support the last couple of days, staying above the 100 day moving average and also export demand for corn has improved over the past couple of weeks.
The final Innovator Workshop will be Monday Feb. 5th in Wall Lake at 3:45pm. Hear from our agronomy, grain and precision teams. For more details: http://bit.ly/2CXlKIA
Our averaging contracts are now available for Old Crop or New Crop, both corn and soybeans. Please contact your local GMA or call (887) 778-2226 for more details. The sign up deadline is March 1.