Morning Comments August 30. 2018
Thursday, August 30, 2018, 8:08 AM
Submitted by: Landus Cooperative
Corn +1 to 2
Beans +2 to 3
Optimism continues regarding finalizing a NAFTA agreement in the next couple of days.
Strength in the wheat market continues to give strength to corn.
Several stories are talking about the recent trend of corn making seasonal lows between mid-August and mid-September. The hope being that we find a bottom and begin to work higher. A lot will depend on actual yield results once combines start rolling hard in the corn belt.
For soybeans, the good news is the continued high demand in the U.S. with monthly crush numbers at or above record levels. The bad news continues to be the ongoing disagreement with China. Soybean basis is under enormous pressure and will remain so until post-Harvest.