Morning Comments May 18, 2018

Friday, May 18, 2018, 8:05 AM
Submitted by: Landus Cooperative

Current price action:

Corn up 5c to 6c

Bean up 2c to 3c

Wheat up 8c


Markets are getting some support this morning from the announcement of China dropped its anti-dumping probe of U.S. grain sorghum imports. This is helpful to other feed grains (corn and wheat). China reportedly offered the Trump Administration $200 billion drop in U.S./China trade deficit. This should move the needle in resolving some trade tensions between the world’s two largest economies. In South American news, another private estimate pegs Argentina soybean production at 36.0 MMTs due to reduced yields and increase abandoned acres. This is generally “in-line” with other estimates.


Weather outlook shows no major changes for the U.S. Midwest. We may see some rainfall over next 10 days which will be helpful to crops already planted. Brazil is still a concern due to dry conditions and lack of planting progress. This is a mild threat to the second crop of corn planted.


Have a great Friday!



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