Morning Comments November 1, 2018
Thursday, November 1, 2018, 1:11 PM
Submitted by: Landus Cooperative
Corn Up 1 to 2
Soybeans Down 2 to 3
U.S. ethanol production was up 10 million gallons last week to end at 311 million gallons. This was the biggest production rise in the last 3 months. There was a sharp decline in U.S. ethanol stocks to 955 million gallons vs. 1.004 billion gallons the prior week.
The USDA’s weekly export sales report will be out this morning.
The dollar index climbed to a 16 month high yesterday. The Sept dollar index is trading lower this morning. This morning the December crude oil contract is trading lower.
Taiwan’s government is claiming they have discovered the African swine fever in foods processed in China. South Korea and Japan have made similar statements.
Soybean imports from the U.S. to China were 132,248 tons, this number was 937,000 tons in September of last year.
Keep in mind that you can get the latest information on the markets once a week on the Landus Cooperative Experience podcast, featuring the Bull Bear Banter at https://landuscooperativeexperience.podbean.com/