Morning Comments April 8, 2020

Johndeere Planting 51

Opening Calls:

Corn 1 to 2 higher

Beans 4 to 5 higher

Crude up 24 cents

Dow up 169 points

Markets are looking forward to ethanol production and stock numbers which will be out later today. Corn is getting support from fund covering and the U.S. corn being the cheapest in the world through at least late June.

Traders are also watching the 7-10 day forecast, which is calling for rain and cooler weather for the Midwest. Markets are watching to see when farmers will start planting and what they will be planning.

Soybeans continue to trade sideways. Traders are seeing some Chinese business, but most of it is going to Brazil right now. South American harvest is big and if the U.S. plants 85 million acres of beans, what will the world carryout of soybeans be?

April WASDE out at 11 A.M. tomorrow. 

Markets are closed on Friday in observance of Good Friday.