Morning Comments September 19, 2018
Wednesday, September 19, 2018, 8:09 AM
Submitted by: Landus Cooperative
Corn Steady to 1 Higher
Soybeans Steady to 1 Higher
Corn and soybeans are both trading slightly higher this morning. Informa is looking at 93 million acres of corn being planted in 2019. That would be an increase of 4 million acres compared to 2018.
Ethanol production and stocks numbers will be out this morning. We have heard of ethanol plants in the Midwest slowing down or shutting down due to negative margins right now.
Informa is predicting 7 million less acres of beans being planted in 2019. The carry in the soybean market from November to July is just shy of 51 cents. This is pointing the farmer in the direction of storing as many beans as possible.
The September dollar index and the October crude oil contract are both trading lower this morning.
Remember to download the Landus Cooperative app for harvest hours, bids, and any news releases.
Have a safe harvest!