Morning Comments December 30, 2019

Soybean Harvest Close Up 2016

Opening Calls:
Corn: 1 to 2 higher
Beans: 6 to 8 higher

Good morning! Looks like we are back to seasonal weather for the time being… 

Grains trading higher this morning after a rough day on Friday. The biggest headline this morning is the spot Chicago wheat contract rose overnight to its highest level since early August 2018, with U.S. exports very gradually picking up. Corn remains quiet so far this morning, though, as it likes to follow wheat occasionally. The bean market remains in limbo as traders are hoping for bigger sales to China. One news story talking about the Chinese Vice Premier coming to Washington this weekend to sign the Phase One agreement. South American weather is also being closely watched but has yet to pose any serious threats to the crop. As we near the end of 2019 much focus is on the January 10th USDA report where we will see final yield and production values.

Reminder: If you have deferred checks to pick up they will be available at locations on Thursday, January 2nd.

Have a good day!