Corn: 2 to 4 higher
Beans: 6 to 10 higher
The corn market rallied yesterday after it was announced that a phase-one deal had been reached with the U.S. and China. A positive export report also helped the market along as U.S. corn showed 874,000 mt vs a predicted 400-800,000. Bulls continue to hope the USDA will reduce yields in the January report and we need to continue to keep a close eye on the potential corn acres for 2020. The trade announcement also provided some support for soybeans yesterday with the market continuing to trade higher this morning. U.S. bean export sales came in at 1.050 mmt vs a predicted 500,000 – 1.1 mmt.
Have you started your 2020 marketing plan? Contact your local Grain Marketing Advisor to talk about our New Crop Averaging contract offered on both corn and soybeans. This is a great way to start of your marketing year and book your first sales.