Morning Comments April 13, 2018
Friday, April 13, 2018, 8:04 AM
Submitted by: Landus Cooperative
Corn: Steady to lower
Beans: 2-4 higher
Grains were mixed over night with corn trading only a two cent range on thin volume. The small support that we saw yesterday in corn was on the back of continued strong export sales, even with sales less trade expectations, the amount of sales still support a robust corn export program. Soybeans saw a nice uptick in board prices yesterday thanks in part to surprising export sales figures that where greater than what the trade had expected. Easing of trade tensions with China also appear to be adding support.
The trade will focus spring weather across the Midwest, which shows a cool forecast and precipitation across majority of the corn belt through the weekend. Today’s Commitment of Traders Report, out after the close, will be closely watched, after last week’s report indicated a large long fund positions in both corn and beans.