Morning Comments November 15, 2018
Thursday, November 15, 2018, 2:11 PM
Submitted by: Landus Cooperative
Corn up 3 cents
Soybeans up 9 cents
Corn and soybeans are both higher this morning. There’s very little fresh news on the trade front in corn. Corn continues to trade in a very narrow range.
Soybeans are happy to see some fresh headline regarding Chinese trade. It’s the first time since the summer that Chinese officials have delivered a written response to the Trump administration of potential trade agreements, giving hope that the U.S. and China might come to some kind of agreement on the trade front. There are still speculations that Chinese soybean buyers could be forced to purchase U.S. supplies by late-December or early-January.
Stocks are seeing some strength this morning, as traders are digesting positive comments from China regarding trade and positive comments from Federal Chair Jerome Powell who spoke last tight in Dallas. The way he spoke it seems that he is committed to the gradual interest-rate-hike path. It is suspected that there will be another 0.25% hike in December.
Have a great day!