Morning Comments August 22, 2018
Wednesday, August 22, 2018, 8:08 AM
Submitted by: Landus Cooperative
Corn: 2-3 lower
Beans: 5-6 lower
Grains trading lower this morning after large yield reports from the Pro Farmer Crop Tour come rolling in, pressuring corn and soybeans. They estimated Indiana corn yield at 182.3 bpa vs 172.2 last year and the 3 year average at 162.5 bpa. Nebraska corn yield was pegged at 179.2 bpa, up from 165.4 a year ago and 3 year average of 163.1 bpa. Soybean pod counts also increased from last year and the 3-year average. The crop tour continues through the week and the trade will have close eyes on social media for updates.
Politically, trade negotiations are set to begin with China today in Washington DC. Wires this morning are also reporting the designated NAFTA negotiator for Mexico's incoming president is claiming trade negotiations between the U.S. and Mexican trade officials are making good progress and coming to an end. Any headlines on this will be important to the trade as well.
If you are planning to attend the Farm Progress Show next week, please note that we will be hosting a Customer Appreciation Dinner on Wednesday evening. Please contact your local GMA, or call 877-778-2226, to RSVP. Hope to see you there.
Have a good day!