Morning Comments September 12, 2017

Opening Calls:

Corn down 1

Beans up 1

 

Good morning!

 

Yesterday afternoon the weekly crop progress report showed that corn is rated 61% good to excellent, (unchanged from last week) and soybeans are ranked at 60% vs. 61% last week. 5% of the U.S. corn crop has been harvested versus 6% a year ago. NASS will release a national soybean harvest progress rating next week.

 

It’s a sit-and-wait game this morning as we tick closer to our 11:00 a.m. WASDE report. Most of the focus will be on the USDA’s yield assumption although most don’t expect any major changes. The general idea is that the yield will be lower slightly and old crop export estimate will be increased.

 

The trade is looking for numbers around 168.2 and 48.8 bpa- anything significantly different than this will have an impact on our market today.

 

Thank you for your business!