Morning Comments August 27, 2018
Monday, August 27, 2018, 9:08 AM
Submitted by: Landus Cooperative
Beans down 11-13
Corn down 2-3
Corn and beans traded lower overnight, pressured by the Pro Farmer corn yield, pegging 177.3 vs. USDA’s number of 178.4. The bean yield is pegged larger than the USDA’s 51.6 at 53.0 BPA. Soybeans are also finding pressure from African swine fever and belief that it reduce soybean and soymeal demand. NAFTA negotiators are expecting to have a solution later today with Mexico that could be bullish for corn. USDA is expected to make an announcement today on a subsidy of $1.65 per bushel of beans and $.01 per bushel on corn.
We hope to see everyone Wednesday for the Farm Progress Show and our Customer Appreciation Dinner. Be sure to RSVP to your GMA or your FSA for Wednesday’s dinner.