Morning Comments March 19, 2019
Tuesday, March 19, 2019, 1:03 PM
Submitted by: Landus Cooperative
Corn up 1 to 2 cents
Soybeans up 1 to 2 cents
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.
Agri-Business Insurance Services
Flint Hills Resources
Iowa Corn Growers Association
Iowa Select Farms
Iowa Soybean Assn
ISU College of Business