Morning Comments April 2, 2019

Overnight:

Corn steady

Beans 1-2 higher

 

Good morning!

 

Yesterday corn funds bought back over half the contracts they sold on Friday. Trade is hoping that the U.S. and China can get something worked out on corn sales or ethanol sales.

 

Yesterday there was another China sale announced, that plus the Friday sale is a total of a little under 60 million bushels of new soybean sales.

 

Trade continues to watch the U.S. and China talks which are going on this week, as well as the 7-10 day forecast throughout the Midwest. Everyone is questioning when the farmers will get back in the field.

 

PLEASE NOTE: Our grain policy is changing effective April 1st. The change will be with 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.