Morning Comments February 22, 2019
Friday, February 22, 2019, 2:02 PM
Submitted by: Landus Cooperative
Corn: penny higher
Beans: 2 cents higher
Grains trading slightly higher this morning as the market awaits a huge pile of export data from the past 6 weeks. We say a nice rally yesterday with the markets closing in the green due to positive talks with China. President Trump also meets with China’s top trade negotiator today, so everyone will be watching for headlines regarding any news from that. The USDA Ag Forum yesterday found projected 2019 U.S. corn plantings at 92 million acres, up 3 million acres from last year and also the highest in 5 years. Soybean acres estimated at 85 million acres, 4 million acres lower than last year. Aside from the political trade negotiations happening right now, a lot of the trade will be looking at acre estimates the next month.
Looks like we’re in for another storm this weekend- stay safe and warm!