Market Commentary Oct. 3, 2018
Wednesday, October 3, 2018, 8:10 AM
Submitted by: Landus Cooperative
Corn: 1-2 lower
Beans: 3-4 higher
Grains trading mixed this morning after we ended the day stronger yesterday. The funds were active yesterday in the markets buying into corn, wheat, and beans. Soybeans are currently trading near a 6-week high. Wet weather conditions and seasonal strength in the technical markets have given some traders the confidence the harvest lows may be in place. We are still watching for headlines regarding China and US trade…
President Donald Trump is expected to visit Iowa next week to deliver on a promise to lift a summer ban on higher ethanol blends of gasoline. It is expected Trump will direct the EPA to lift the summer ban on E15 gasoline and may tighten restrictions on the trading of ethanol blending credits to keep prices down for merchant refiners struggling with the cost of complying with the US Renewable Fuel Standard.
As mentioned yesterday, Landus Cooperative will be starting a weekly podcast. This will be the Landus Cooperative Experience podcast, featuring the Bull Bear Banter, a discussion on the previous 5 days of futures-related news. The first episode will be published and released this Friday afternoon. You will then have all weekend to listen to the podcast and get our take on what the market has done during the week. Occasionally, we will have an extra feature that will follow the Bull Bear Banter market recap. We will give you full details regarding how to download the podcast tomorrow.