Morning Comments May 10, 2019

Opening Calls:

Corn down 1 to 2

Beans down 2 to 3

 

Good morning!

 

Grains trading slightly lower this morning with corn down a penny and beans 3 cents lower.

 

Today we will see the May USDA report at 11am which is expected to be bearish to the markets. Tune into the Bull Bear Banter this afternoon for our take on the report.

 

Ending stocks remain high for corn and beans as the trade is desperately searching for positive demand news. We still have no news out of the U.S./China trade negotiations- the market is patiently waiting to hear updates. Fundamentally, the weather has put a halt to much of the planting in the corn belt and will matter even more the next 2 weeks. Talks of acres switches in the big “I” states….