Morning Comments November 30, 2018
Friday, November 30, 2018, 3:11 PM
Submitted by: Landus Cooperative
Corn steady to up 3 cents
Beans up 5 to 8 cents
Thursday, December corn closed ¼ cent lower at $3.60 ¼. USDA’s Export Sales report was encouraging for corn, with numbers coming in above expectations at 1.266 MMT for 18/19 corn bookings. South Korea was the lead buyer of 327, 900 MT.
January soybeans closed down 3 ¼ cents at $8.87 ¼ yesterday, with a lot of back and forth trading throughout the day as traders try to decide where they want to be positioned ahead of this weekend’s G-20 meeting. Export sales for U.S. soybeans last week came in at 629,000 MT, well within market expectations. Without a deal with China, we continue to see sales lag from where we were at this time last year.
With it being the end of the month and the much-anticipated G-20 Summit meeting, markets are hovering between steady and optimistic this morning. A friendly reminder to take extra precautions with the fog and wet roads this morning – it can be slick out there!