Morning Comments June 26, 2018
Tuesday, June 26, 2018, 8:06 AM
Submitted by: Landus Cooperative
Corn: +3 to +4
Beans: +3 to +5
Traders this week will be focusing on what to expect from Friday’s USDA acreage estimate. The trade’s average guess for corn acres is 88.5 million acres, which would be up 500,000 acres from the March estimate. Many in the trade wonder if the acreage really did change that much from intentions, given how late the crop was planted in some areas. The trade also seems to be factoring in a corn yield in the 180 to 183+ bu/acre range which could mean that the US 2018/19 carryout will not fall as much as previously expected.
The trade estimates for this Friday’s soybean acreage are that the planted bean acreage will come in at 89.7 million acres, up 700,000 acres from the intentions report in March.
The September dollar index is trading higher this morning at 94.24. This morning the August crude oil contract is trading lower again this morning at just below the $68.00 level.
Utilizing 1Recommendation powered by FieldReveal and Climate FieldView to improve efficiencies, scout, and understand what’s really going on in your fields. Reach out to your Landus Cooperative Field Sales Agronomist to learn more today!