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MARKET COMMENTARY

Morning Comments March 19, 2019

Tuesday, March 19, 2019, 1:03 PM
Submitted by: Landus Cooperative


Opening calls:

Corn up 1 to 2 cents

Soybeans up 1 to 2 cents

 

Good morning!

 

Yesterday, the May corn contract closed 1 ¾ cent lower yesterday, settling at $3.71 ½, and the December contract was 1 ¼ cent lower closing at $3.94 ¾. The May soybean contract closed 3 ½ cents lower settling at $9.05 ¾, and the November contract was 3 ½ cents lower closing at $9.39. Corn and beans fell on weak export data, and the lack of fresh trade details with China, though 9.9 million bushels were exported to China last week. Brazilian President and President Trump are meeting today hoping to improve trade relations, Brazil is hoping for duty-free beef into the U.S. and the U.S. is hoping for tariffs to be removed on U.S. ethanol. In other news, China’s pork price has jumped to a 13 month high because of African Swine Fever, reducing their herd size, and China begins looking for pork to build reserves, lastly also hearing rumblings that trade is wondering if acres will go back to beans because of conditions. 

 

Ask your local GMA about our new non-GMO program for spring/summer delivery in 2020. 

 

Landus Cooperative would like to thank all our sponsors for the 2019 Ventures conference happening this weekend, March 22-23.

Agco/GSI

Agri-Business Insurance Services

BASF

Calcium Products

CHS

CoBank

Corteva

Flint Hills Resources

FMC

Iowa Corn Growers Association

Iowa Select Farms

Iowa Soybean Assn

ISU College of Business

Koch Fertilizer

Mosaic

Nationwide

Paulsen Marketing

RJ O'Brien

Syngenta

Verdesian

 

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Ames, IA 50010
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