Morning Comments March 23, 2018
Friday, March 23, 2018, 8:03 AM
Submitted by: Landus Cooperative
Corn down 2-5
Beans down 5-10
Commodities are down with China proposing tariffs on U.S. pork, steel, wine and fruit. Have not proposed tariffs on soy or sorghum yet.
With corn and beans down over night, they have taken out recent support levels on the charts. Trade is extremely nervous what China will do with yesterday’s announcement.
Argentina and Brazil have rain in the forecast this weekend.
Dow is trading a little higher this morning, following yesterday’s over 700 point loss on fear of a global trade war.
Keep in mind the USDA planting intentions and stocks in all positions reports will be released next Thursday the 29th. These reports will give some fairly solid direction for the foreseeable future. Also, speaking of March 29th, that is also the deadline for enrolling in the Merchant’s Plus program. If you do not feel like you are sold up enough for New Crop, this would be a good program to explore. Call your local Grain Marketing Advisor, or our office in Ames, (877) 778-2226, for complete details.