Morning Comments February 7, 2019
Thursday, February 7, 2019, 2:02 PM
Submitted by: Landus Cooperative
Corn steady to 1 lower
Soybeans 1 to 3 lower
Grains trading slightly lower this morning after a quiet day yesterday. The trade is patiently waiting for the USDA report tomorrow and export data. Price ranges have been fairly narrow the past several days and trade volumes in Chicago have been light. South American forecasts remain beneficial as the dry areas remain without precipitation. Senior trade officials from both the U.S. and China will meet in Beijing next week to discuss trade further. The market will be watching for headlines regarding this as well. Aside from that, news remains light as everyone is on the edge of their seat for this USDA data.
Average estimates for the report has U.S. production decreased for both corn and beans…but the question is will this be enough to offset our huge ending stock numbers? We will see….
As always, ahead of a major report day, we encourage you to get your offers in. many times, we see a spike in prices in the first 10-15 minutes of trade after the release, and then, as more of the data is analyzed, we see the prices fade back somewhat. We’re not saying that will necessarily happen tomorrow, but it’s always good to have an offer working at a level you want to get sold, whether that is Old Crop or New Crop.
Register today for Ventures: Connections and Conversations in Ag, the second annual event offered by Landus Cooperative for women in agriculture! To register, and for full program, speakers & agenda visit: www.LandusCooperative.com/news_release/Ventures
Connect with other women for conversations, education, and decision-making support. Industry experts will join the conversations as you continue to grow your network.
Stay safe today.