Morning Comments May 6, 2019

Opening Calls:

Corn      down 8 to 13

Beans    down 23 to 25

 

The President tweeted last night that if the U.S. and China can’t come to an agreement, tariffs would go from 10-25% this Friday. 7-10 day forecast has changed a little bit, and looks favorable for planters to get/keep rolling. Crop Progress report will be out today at 3 p.m.

 

Friday’s commitment of traders showed that speculators last week lightened some of their positions on corn and beans are at a record short position.