Fccoop

MARKET COMMENTARY

Morning Comments November 19, 2018

Monday, November 19, 2018, 2:11 PM
Submitted by: Landus Cooperative


Opening calls:

Corn: steady to 1 lower

Beans: 5 - 7 lower

 

Good morning!

 

Grains trading lower this morning after an active day last Friday. Soybeans rallied on headlines from Trump stating China is wanting to make a trade deal. The problem is there are doubts anything will be resolved before South American bean harvest. The bad news for U.S. soybean producers is that China is laying the ground work for longer-term alternatives. Several major international grain firms are said to have closed deals this week to establish future trade to China out of Brazil, Argentina, and Uruguay. President Trump is still scheduled to meet with China at the end of this month- all bean traders will be anxiously waiting.

 

Meanwhile, the corn market is having a tough time gaining much of a rally due to a 6.2% drop in crude oil prices last week. Corn exports last week were better than expected, but that wasn’t enough to move the market higher. Fundamentally, U.S. producers are wrapping up on harvest in the Midwest and everyone is waiting to see what we really had out there for yields.

 

Have a good day!

 

 

« Back

© 2018 Landus Cooperative, All rights reserved.
Landus Cooperative
2321 North Loop Dr., STE 220
Ames, IA 50010
515-817-2100
Departments
Find Landus Cooperative on
facebook icon twitter icon youtube icon blog icon