Morning Comments December 6, 2018
Thursday, December 6, 2018, 2:12 PM
Submitted by: Landus Cooperative
Corn down 1 to 2 cents
Soybeans down 9 to 10 cents
March corn closed down 1/2 cent yesterday at $3.84 1/4. Weekly EIA report for ethanol production and stocks will be out today, and trade expects production to be 305 to 310 million gallons for last week. Export sales report will be out on Friday this week.
January soybeans closed up 1 3/4 on Wednesday. After 4 “up” trade sessions in a row, we seem to be running out of steam for the time being. While ag commodity traders have been optimistic about the U.S.-China truce, we’ve seen sharp sell offs in the U.S. stock market. With an early harvest likely in Brazil, there is even more concern that the U.S. will miss its export window this year.
USDA’s Supply and Demand report will be out on Tuesday, December 11th at 11:00 am. Estimates for U.S. End Stocks are 1.738 bbu for corn, 0.945 bbu for beans.
We are starting to roll out our 2019 New Crop Opportunity Programs. First up is a 3rd party managed bushel program from INTL FC Stone and Roach Ag. There is a December 17 sign up deadline. Please contact your local GMA or call the Ames office at 877-778-2226 for more details.