Morning Comments April 16, 2019
Tuesday, April 16, 2019, 1:04 PM
Submitted by: Landus Cooperative
Corn: 2 cents lower
Beans: 3 cents lower
Grains are trading slightly lower this morning as weather shapes up in the Midwest for Spring field work and planting. The trade remains concerned about the slow start to US corn planting, despite wet soils and frequent rain systems in the forecast; there’s still plenty of time to catch up in the next month and warmer temps are ahead. We have to remember that with equipment and technology the US farmer can make fast headway on planting and fieldwork. The crop progress report showed corn planting gaining just one point this week to 3% planted as of Sunday night, even with last year but below the 5% five-year average. Politically, many are still patiently waiting on trade news regarding the US and China. Rumors are all positive - but, until we see headlines of actual details or trades, the market is unlikely to move much.
Have a great day!
PLEASE NOTE: Our grain policy has changed effective April 1st. The change is in regard to free time for a delivery. For any new delivery started on or after April 1st, you will have 15 days to make a decision about disposition. These 15 days will also apply to the amount of time allowed for averaging loads on that delivery. On day 16, any open contracts will be filled and the balance of the grain will be automatically placed on open storage unless other arrangements have been made by the 15th day. This change will help the cooperative be more efficient transferring grain throughout the year, and especially during harvest.