Morning Comments August 29, 2018
Wednesday, August 29, 2018, 8:08 AM
Submitted by: Landus Cooperative
Corn up 1-2
Beans up 3-4
Yesterday, the September corn contract closed 5 3/4 lower settling at $3.41, and December was 5 1/4 lower at $3.56 1/4. The September soybean contract closed 14 1/4 lower yesterday at $8.20 1/2, and the November contract was 15 cents lower at $8.33 1/4. Corn and beans continued to slide down yesterday as high crop ratings and no fresh news weighed on the market. In the past two years, the corn contracts have reached lows this week, and that could bring buyers to the market. More info announced on the aid package for U.S. farmers: subsidies are to be made in two payments; first applications periods start Sept 4th. The first payment is half of the $1.65/bu (for soybeans) and will be based on proven yield this fall. The second payment may or may not come depending on whether we have a trade agreement with China.
Customer Appreciation Dinner today at Seven Oaks Lodge in Boone after the Farm Progress Show beginning at 4pm. It’s not too late to RSVP, just call 877-778-2226. Hope to see you there.