Morning Comments March 12, 2019

Opening Calls:
Corn steady to up 1
Beans Steady

Good morning!

Grains trading slightly higher this morning with corn and beans steady to a penny higher. News is light regarding ag commodities- the funds remain short in the corn market so that is something technical to watch. In the global corn market, production in Ukraine and South America is expected to be improved significantly from last year. We also continue to see tight margins in ethanol along with talk of increased corn acres for the U.S. this year. The soybean market seems to remain at a stand-still until we see headlines of a definite trade agreement between us and China.

Most people are mainly concerned about weather, and rightfully so. This extended period of cold and snow, followed by warm temps and rain will make it difficult to expect much field work anytime soon.