Morning Comments April 3, 2018
Tuesday, April 3, 2018, 8:04 AM
Submitted by: Landus Cooperative
Corn is steady to ¼ cent higher
Soybeans 7 to 8 cents higher
Winter is not quite ready to say goodbye. The first look at field work we have seen was some anhydrous put on in the southwest area, other than that it's been pretty quiet. In southern states such as, Texas, Mississippi, Arkansas, and Alabama the crop is progressing well. They're ahead on seeding over last year in the majority of that part of the country. Those states don't make up a large part of U.S. supply, but good to have an idea of where they're standing.
Bean and wheat futures are higher while corn is holding near unchanged overnight. Wheat is supported on poor crop ratings following NASS's first ratings of the season, only 32% of winter wheat was rated good to excellent. Soybeans are rebounding following ideas that yesterday's sell-off was likely overdone following Thursday's bullish acreage report.
Equities are attempting a mild recovery after yesterdays poor performance - attributed mostly to tech and fear of a trade war. Crude oil is up marginally and the U.S. dollar index is holding unchanged.
The markets going to be keeping an eye on cold temperatures and weather in midwest and the trade situation of course.
Thank you for your business, have a great, safe day!