Morning Comments August 31, 2018
Friday, August 31, 2018, 8:08 AM
Submitted by: Landus Cooperative
Corn up 2
Beans up 3
Yesterday, the September corn contract closed ¼ cent lower settling at $3.41, and the December contract was unchanged closing at $3.56 ½. Export sales in corn were disappointing down from 42% from last week’s report, and reports of large farmer sales of old crop corn are putting pressure on corn. On the bullish side, new crop corn export sales are up 66% over last year at 411 million. The September bean contract closed 3 ¾ cents lower yesterday settling at $8.19 ½, and the November contract was 4 ½ cents lower settling at $8.31 ½. Beans are suffering from a lack of fresh news, large yield estimates, big acres, and big carry outs. Being a bull in the bean market is tough.
Have a great weekend!