Morning Comments February 6, 2018
Tuesday, February 6, 2018, 8:02 AM
Submitted by: Landus Cooperative
Corn steady to up 1
Beans up 4 to 5
Corn closed 2 3/4 cents lower at 3.58 3/4, soybeans closed 9 cents lower at 9.69 3/4.
Markets are mixed in the overnight trade on large volume. Weather for Argentina is predicting showers on Friday. USDA is predicting Brazil production at 95mmt. USDA is scheduled to release the Feb report on Thursday. Average trade estimate is projecting corn carry out decrease and beans increase while wheat stocks will be unchanged.
China launched an anti-dumping and anti-subsidy investigation into imports of Sorghum from U.S. The sorghum has helped support the corn market and the fear is that will now be slowdown for U.S. sales and shipments.
Dow futures are starting down again today by 225 points.
Our Averaging contracts are now available for Old Crop and New Crop, both corn and beans. With only a 4 cent fee, this is a very cost effective way to get started marketing grain. We also have an Enhanced Averaging contract for an extra 2 cent fee. Please contact your local GMA for complete details, or call (877) 778-2226 to reach a GMA in Ames.