Morning Comments February 12, 2018
Monday, February 12, 2018, 8:02 AM
Submitted by: Landus Cooperative
Corn +2 to +3
Soybeans +9 to +14
Good Monday morning!
Higher markets to start off the new week with nearby soybeans up almost 14 and corn up 3. Soybean futures gapped higher on weather concerns in South America - the weekend rains in Argentina provided less coverage than expected and the next chance of meaningful rain happens this coming weekend but overall, the outlook is drier than thought on Friday. Safrinha corn plantings in Mato Grosso are estimated at 27% complete, comparing to 47% a year ago. The 5-year average for corn plantings in this week is 25%. Interesting to note, Brazil’s second biggest producing region only has 1 percent of the area harvested so far, and overall, Brazilian soybean harvest is sitting at 10 percent complete through Thursday.
Friday’s Commitment of Traders report showed the funds were approximately net buyers of 48,000 contracts corn, and 12,000 contracts soybeans.
These weather markets can be very tricky- putting in offers is a great tool to help you get to a price point that you’re wanting as well as making sure you don’t miss an “up day” (or a positive over night session)!
This is a “cannot miss” member meeting. If you want an update on what’s going on at YOUR cooperative, join us for a member meeting!
- Section 199
- 2018 CapEx Plans
- Agronomy Fleet Upgrades
- New/Online Customer Portal
- Computer System Changes and One Customer Statement
- Technology Investments
- Plans for Demolition and Site Clean-Up
- and Q&A
RSVP online: http://www.landuscooperative.com/news_release/member-meeting-registration/
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. Contact your local GMA for complete details, or call (877) 778-2226 to reach a GMA in Ames.