Morning Comments March 22, 2018
Thursday, March 22, 2018, 8:03 AM
Submitted by: Landus Cooperative
Beans steady to 1 higher
Corn 1-2 higher
Market will be watching what President Trump does today. It is rumored that he will be announcing new tariffs again China.
Wheat is lending chart support to corn and beans. KC Wheat is finally having an up day after 4 straight down days.
199A is still a hot topic, lawmakers have until tomorrow to vote on proposed modifications to the law
Estimates are already out on the market ahead of the March 29th Acreage intentions report.
Rabobank came out yesterday with their U.S. numbers and has soybean plantings at 91 million acres and corn at 89.5 million acres. Wheat they have estimated at 47.0 million acres.
For the South American crop, they raised soybean crop above last year to 114 million tons. Corn is estimated at 85.5 million metric tons.