Morning Comments October 4, 2018
Thursday, October 4, 2018, 9:10 AM
Submitted by: Landus Cooperative
Corn: 2 cents higher
Beans: 3 cents higher
Grains trading slightly higher this morning as the weather forecast for the western corn belt remains unfavorable for harvest. We keep watching the headlines for news regarding trade relations with U.S. and China, but nothing new has happened and the relationship seems to keep deteriorating. We did see a nice export sale yesterday of 230,000 tons of corn sold to Japan in 2018/19. Today, Informa is expected to update their production estimates today. Last month the entity pegged corn yield at 178.8 bpa and soybean yield at 52.9 bpa. Corn production was estimated at 14.621 billion bushels. Soybean production was pegged at 4.698 billion.
Politically, the Brazilian presidential election begins this weekend.
Landus Cooperative will be starting a weekly podcast featuring the Bull Bear Banter, a discussion on the previous 5 days of futures-related news. Friday afternoon the first episode will be published and released! To download the podcast go to www.landuscooperativeexperience.podbean.com or search “Landus Cooperative Experience” under your Apple or Android podcast store.
Glad to see some farmers getting back into the fields yesterday afternoon- hope this rain holds off so we can get some progress made! Have a good day!