Morning Comments December 17, 2018
Monday, December 17, 2018, 2:12 PM
Submitted by: Landus Cooperative
Corn Steady to 1 higher
Beans 2-4 higher
There is continuing talk that the USDA should lower the corn yield in January. This would help to tighten up the supply and carryout. Acreage shifting is another widely discussed topic again this year. There are a lot of variables to this debate, with corn inputs expected to rise, it may not be such an easy switch. Old crop corn export sales were 35.6 million bushels last week. News is out that Mexico may be making a large purchase in the very near future.
The USDA confirmed a sale of 21.5 million bushels of beans to China last week. Trade is watching the wet conditions in Argentina and the drier conditions in Northern Brazil to see if this will impact the size of South American crop.
The December dollar index is trading higher this morning along with the January crude oil contract.
Tomorrow is the annual meeting for Landus Cooperative. Our guest speaker will be USDA trade counsel, Jason Hafemeister. For more details click here.