Morning Comments April 6, 2020

Harvesting Soybeans

Opening calls:

Corn down 1 to 2

Beans down 3 to 4

Crude down about a dollar 

DOW up 700 pts

On Friday, May corn on the CBOT failed to stay above the previous lows which were at $3.32. Farmers in the Midwest are in the field planting corn, which in some areas is 1-2 months earlier than last year. OPEC meeting scheduled for today has been delayed which will cause more chaos in the energies market, however, there is some hope a deal can be reached soon. Traders are starting to talk about the April WASDE report due on Thursday. Estimating that corn carryout will be over 2 billion bushels because of the reduction in ethanol.