Morning Comments December 23, 2019

Combine Grain Cart

Opening Calls:

Corn steady to slightly higher 

Beans 2 to 3 higher

Last week, March corn futures gained almost 7 cents, and December 2020 was up 6 1/2 for the week. 

We’re starting a little higher today, as the market continues to be in a wait and see mode. The 100 day moving average for March corn is just below $3.90, so we’ll be keeping a close eye on that level to see if the trade can push through and sustain a closing level above the average. 

January soybean futures gained 18 cents last week, and November 2020 futures were up more than 15. There seems to be a little more optimism every day about future sales to China, but it feels cautiously optimistic, as well. 

Keep in mind that the Board of Trade will have reduced hours tomorrow, closing early at 12:05 PM, and then remaining closed until Thursday morning at 8:30 AM. 

Landus Cooperative offices will also close early on Tuesday, at 2 PM. We will reopen for regular business on Thursday morning.