Morning Comments December 19, 2018
Wednesday, December 19, 2018, 3:12 PM
Submitted by: Landus Cooperative
Corn Steady to 1 lower
Beans Steady to 1 lower
While there aren’t many big headlines expected on the corn side today, one thing traders will be looking for is the release of the EIA’s weekly ethanol production and stocks report. Thursday’s USDA export report will also give the grain markets some data to chew on. The market is waiting for the potential for the USDA to cut its production estimate in January. There are continued rumors about the potential to export corn to China, but for now, that is all they are.
The weather in South America continues to attract trade attention with some parts of Argentina being very wet, and parts of Central and southern Brazil are to dry. There are some scattered reports of more beans being sold to China, but fairly small amounts.
Ukraine is reporting the country harvested a record 161.7 million bushels of soybeans in 2018.
The March dollar index is trading 28 points lower this morning and the January crude oil contract is trading slightly lower.