Morning Comments January 10, 2019

Opening Calls:

Corn down 1

Beans down 5

 

Yesterday the March corn contract closed 2 cents higher settling at $3.82, and the July contract was 1 ¾ cent higher closing at $3.97 ½. The March soybean contract closed 5 ½ cents higher settling at $9.24, and the July contract was 5 ½ cents higher closing at $9.49. The markets traded higher with continued weather concerns in Brazil and hopes that trade talks will conclude with additional sales to China. Ethanol production declined for the 3rd week in a row, but trade seems to continue to believe that China will begin buying ethanol, increasing demand. No export news or WADSE report today with the government shutdown. Markets are lower this morning waiting for fresh trade news.

 

Today is the last day to sign up for the Managed Marketing Contract, let the experts market a share of your new crop corn. This is a great opportunity to get some forward contracting done and relieve the stress on some bushels. Contact your local GMA to enroll.