Morning Comments January 9, 2019

Opening Calls:

Corn steady to +1

Beans +2 to +3

 

Good morning!

 

Grains trading slightly higher this morning with corn up a penny and soybeans 2 – 3 higher. Optimism in the market space this morning as positive news came from the U.S. officials on talks with China regarding trade. Results are expected to be summarized within the next few days. Globally, in the midst of dry conditions in Brazil, farmers reporting disappointing yields for early-maturing beans. Data from Mato Grosso reporting yields down -8bu/acre from expectations. Fundamental news remains thin as the government shutdown continues with no real end in sight. It appears that the Jan 11th WASDE report will be postponed, not cancelled. Speaking of the USDA, they have extended the deadline for farmers hurt by tariffs to apply for Market Facilitation Program aid payments, matched to the days the government has been closed.

 

Tomorrow is the deadline for signing up for the Landus Cooperative Managed Market Contract for 2019 corn for New Crop. Call your local GMA or dial 877-778-2226 for more details.