Morning Comments January 11, 2019
Friday, January 11, 2019, 2:01 PM
Submitted by: Landus Cooperative
Corn up 2 to 3 cents
Beans up 4 to 6 cents
Yesterday the March corn contract closed 5 ¾ cents lower settling at $3.76 ¼, and the July contract was 5 ¼ cents lower closing at $3.92 ¼. The March soybean contract closed 17 ¼ cents lower settling at $9.06 ¾, and the July contract was 16 ¾ cents lower closing at $9.32 ¼. Markets traded down on the lack of Chinese export news and disappointment over CONAB’s reductions in the estimates on Brazil’s corn and soybean crop size. Corn and beans are trading higher this morning as we see little chances for improvement in Brazil’s weather, ethanol margins turning positive, and crude and gas rallied to a 3 month high. Corn bulls believe that China is currently purchasing corn and DDGs from the U.S., but with the government shut down no exports are being reported.
Free Price Later is open for corn in areas; please call your location to see if it is available. It is also available for beans at our Ralston location.