Morning Comments May 3, 2018
Thursday, May 3, 2018, 8:05 AM
Submitted by: Landus Cooperative
Corn steady to 1 lower
Wheat 3-5 lower
Trade is waiting to news out of China and how trade talks are going. This will continue to keep beans in a sideways to lower trading pattern until an agreement can be announced.
Rain through the Midwest again last night should be supportive to corn because of more planting delays.
Another round of storms Thursday night into Friday, then warmer weather for the weekend is the current forecast.
More disappointing news out of the wheat tour in the US, yields continue to be reduced.
Markets are looking for fresh news to move markets forward.
Remember corn is still in the top part of the charts. Last time we saw these levels was late July into August.
Soybeans are 10-15 cents off the highs.
Both are still at good levels to get caught up on sales for both old and new crop.
Remember to use offers. Have them in place before you head to the field again next week.
Let us know how we can help finalize your Old Crop marketing and/or add to your New Crop marketing.