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MARKET COMMENTARY

Morning Comments February 5, 2019

Tuesday, February 5, 2019, 2:02 PM
Submitted by: Landus Cooperative


Opening calls:

Corn:  steady

Beans:  steady

 

Good morning!

 

Grains trading steady on the early morning trade as the market awaits the USDA reports that will be released on Friday. Globally, AgRural estimated the 2018/19 Brazilian bean harvest is 19% complete, up from their last year’s pace of 6%. We got a nice bean crush report for last November, showing total U.S. bean crush at 178 million bushels, which was above trade estimates. Corn used for ethanol last November came in at 454.5 million bushels. Aside from that, we just wait for report estimates to hit the wires these next few days. Light news- but not much to report right now.

 

Reminder to put some offers in before Friday! Never know how volatile the market will be with these reports hitting at once. Have a good day!

 

 

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