The overnight was relatively quiet with low volume trade and tight ranges after a volatile day yesterday.
Soybeans had a solid export report yesterday, but the total for the year is down about 14% from last year. Corn exports on the other hand didn’t support last week’s USDA increase. It is clear that they are looking for the last half of the year to significantly increase due to concerns in Argentina and Brazil’s safrina crop.
Argentina remains dry with slightly higher chances of rain after 10 days, but the long range models have bee unreliable.
The outside markets are mostly lower this morning, with the U.S. dollar sharply lower while energies are just marginally lower. U.S. equities saw modest selling after their sharp gain yesterday.
Pressure against the U.S. dollar may be attributed to Trumps 4.4 trillion dollar federal budget. It is nearly double from last years projections. Trumps plan favors more military spending and immigration enforcement, while slashing entitlement programs.
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This is a “cannot miss” member meeting. If you want an update on what’s going on at YOUR cooperative, join us for a member meeting!
Topics include:
Section 199
2018 CapEx Plans
Agronomy Fleet Upgrades
New/Online Customer Portal
Computer System Changes and One Customer Statement
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Morning Comments February 13, 2018
Current markets:
Corn steady to 1c higher
Soybeans 6c to 7c higher
Good morning!
The overnight was relatively quiet with low volume trade and tight ranges after a volatile day yesterday.
Soybeans had a solid export report yesterday, but the total for the year is down about 14% from last year. Corn exports on the other hand didn’t support last week’s USDA increase. It is clear that they are looking for the last half of the year to significantly increase due to concerns in Argentina and Brazil’s safrina crop.
Argentina remains dry with slightly higher chances of rain after 10 days, but the long range models have bee unreliable.
The outside markets are mostly lower this morning, with the U.S. dollar sharply lower while energies are just marginally lower. U.S. equities saw modest selling after their sharp gain yesterday.
Pressure against the U.S. dollar may be attributed to Trumps 4.4 trillion dollar federal budget. It is nearly double from last years projections. Trumps plan favors more military spending and immigration enforcement, while slashing entitlement programs.
MEMBER MEETINGS:
This is a “cannot miss” member meeting. If you want an update on what’s going on at YOUR cooperative, join us for a member meeting!
Topics include:
RSVP online: http://www.landuscooperative.com/news_release/member-meeting-registration/
Thank you for your business, have a great day!