Morning Comments September 11, 2017

Opening Calls:

Corn down 3

Soybeans up 2

 

Good morning!

 

The corn market is trading a bit lower this morning ahead of tomorrow’s WASDE report. With the funds having an established short position, there is room for short covering to give the corn market a little boost. The average trade estimates for tomorrow are for total production to come in at 14.035 billion bushels, with an average yield of 168.2 bu/acre- down modestly from last month’s USDA estimate of 14.153 billion and a yield of 169.5.

 

The soybean market is trading higher this morning, recovering some of its losses from Friday. The average trade estimate has the total soybean crop estimated at 4.328 billion bushels with a yield of 48.8 bu/acre vs. the USDA’s August estimate of 4.381 billion bushels and 49.4 bpa.