Morning Comments November 12, 2018
Monday, November 12, 2018, 2:11 PM
Submitted by: Landus Cooperative
Corn steady to 1 lower
Beans 4 to 6
Corn is under pressure this morning as we start things off with the dollar slightly higher and gold slightly lower. Crude is trading a bit higher, but is down almost 20% in the past 30 days. The normal Monday crop progress report is being delayed until Tuesday due to the Veteran’s Day federal holiday.
Beans continue to feel the weight of a projected burdensome carry out. With USDA reluctant to put 1 billion in that category just yet, a lot of folks in the industry believe we are headed in that direction, as exports continue to under-perform relative to the current number on the page of the last WASDE report. We do still see a glimmer of hope in the meeting between President Trump and President Xi of China later this month.
Sounds like the cold weather is going to continue for a few more days, please be safe out there.