Morning Comments August 20, 2018
Monday, August 20, 2018, 8:08 AM
Submitted by: Landus Cooperative
Beans +10 to +12
The overnight trade showed little gain for corn, mostly because wheat is down 8 to 9 cents. Wheat fell on news of Russia limiting exports.
November beans were up 11 3/4, as traders are realizing that China needs beans regardless of whether or not there is a tariff.
Midwest weather is much more conducive to the end of the crop cycle, so upside in beans and/or corn may be limited without some sort of significant international news regarding resolution of any trade disputes. We continue to hear that negotiations with Mexico are going well, but until there is concrete, verifiable news, corn rallies will be muted. Same for soybeans with regard to China. There is speculation that there will be progress on that front shortly, with some suggesting a resolution before Thanksgiving, but, again, time will tell.
Thank you for your continued business.