Morning Comments February 12, 2019
Tuesday, February 12, 2019, 2:02 PM
Submitted by: Landus Cooperative
Corn 2-3 higher
Beans 5 higher
Yesterday the March corn contract closed 1 ½ cent lower settling at $3.72 ¾, and the July contract was 1 ½ cent lower closing at $3.88 ½. The March soybean contract closed 9 ½ cents lower settling at $9.05, and the July contract was 9 ¼ cents lower closing at $9.33. Corn slipped lower yesterday on spillover from the soybean market with a favorable forecast in South America and trade still digesting the USDA's report’s big carry-outs. Today, the markets are recovering loses as the bulls believe that China is looking to purchase corn, and the Ag Ministry in Brazil cut their soybean production 60 million bushels, below the USDA’s Friday estimate.
Averaging Contract signup continues until March 1st, a great way to start your new crop sales.
Deadline has been extended for Ventures, March 22-23 in West Des Moines. REGISTER TODAY! Take advantage of a combined $50 savings on your registration fee and hotel rate.
Be safe as most of the state is affected by the storm that moved through last night.