Morning Comments February 14, 2018
Wednesday, February 14, 2018, 8:02 AM
Submitted by: Landus Cooperative
Corn -1 to 2
Beans -2 to 5
We’re seeing a bit of a correction overnight as the markets are taking a breather after a strong couple of days. Beans are down 2-5 and corn is down 1-2.
It seems buyers are slowing down some before they know more about South American weather. Still limited rain expected for Argentina until the weekend and Brazil is expected to have average rainfall. Brazil should be back from holiday today which may spark some farmer sales after this rally.
Following a big down day, the U.S. dollar is holding near unchanged, despite early weakness during the overnight trade. The stock market looks to rally and energies are lower.
The annual Ag forum will meet from February 22-23, where they will issue unofficial estimates for 2018 U.S. corn, soybean, and wheat production. Early estimates point to 90 million acres vs. 90.2 acres of corn, 14.39 billion bushels vs. 14.604 billion bushels of production, and 2.082 billion bushels vs. 2.353 billion bushels last year for carry out. On the soybean side-91 million acres vs. 90.1 million acres last year, yield at 49 bushels vs. 49.1 bushels last year, 4.415 billion bushels vs. 4.392 billion bushels last year for production, and 590 million bushels vs. 530 million bushels last year for carry out. Another year of massive production and carry outs look to be in our horizon.
MEMBER MEETINGS continue today and through the first part of March
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
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.
Contact your local Grain Marketing Advisor for complete details, or call (877) 778-2226 to reach a GMA in Ames.