Morning Comments December 18, 2018
Tuesday, December 18, 2018, 2:12 PM
Submitted by: Landus Cooperative
Beans 2-4 higher
President Trump announced yesterday via tweet: “Today I am making good on my promise to defend our Farmers & Ranchers from unjustified trade retaliation by foreign nations. I have authorized Secretary Perdue to implement the 2nd round of Market Facilitation Payments. Our economy is stronger than ever–we stand with our Farmers!” Other than that, we have heard no specific details regarding when this payment will be made.
Soybean export inspections reached 35.8 million bushels last week, moving slightly higher than the previous weeks 34.0 million bushels. Cumulative totals for the 2018/2019 marketing year are still down 41% year-over-year.
Corn export inspections last week reached 34.8 million bushels, moving slightly ahead of the prior weeks total of 34.5 million bushels. The 2018/2019 marketing year continues to be 73% higher than the pace of 2017/2018 so far.
The March dollar index is trading 37 points lower this morning and the January crude oil contract is trading lower as well.