Morning Comments February 22, 2018
Thursday, February 22, 2018, 9:02 AM
Submitted by: Landus Cooperative
Corn steady to 1 higher
Beans steady to 1 higher
Grains traded in the red earlier this morning with corn a penny lower and soybeans down 2 cents. The USDA Ag Outlook Forum begins today with most traders expecting bearish numbers to be reported. Argentina weather forecast has little change with dry conditions to prevail through the first week of March. Traders will continue to keep a close eye on the Argentina forecast, as well as the rainfall in Brazil which is still putting a lag on their harvest progress. We had some nice export sales come through this morning of 130,000 metric tons of corn sold to unknown destination for 2017/18, and 55,000 metric tons of soybeans sold to unknown destination for 2018/19.
Averaging Contract: We are now enrolling bushels into our new crop averaging contract. We have looked at new crop corn and bean charts to pick the window in which the futures have traded the highest over a 10-year period. We price your bushels out in this expanded window to give you an average futures price for a new crop sale. This is a great contract and is good to add in your lineup with other new crop sales! $.04 fee with 5000 bu minimum on corn and 2500 bu minimum on beans. Contact your local GMA or call 887-778-2226 for more information. Deadline is one week away, March 1.