Morning Comments December 31, 2019

Harvest 3

Opening Calls:
Corn: penny higher
Beans: 3 cents lower

Good morning!

Grains trading mixed this morning with another week of holiday trade. The bean market remains supported by U.S. and China trade negotiations, though many are waiting to see a definite pickup in exports. The Brazilian harvest is underway in some areas and is set to bring another plentiful exportable supply back to the global trade in Jan/Feb/March. For now, South American weather does not propose a threat to the crop. Aside from global news, traders will be turning their attention to the USDA report next Friday, January 10th. We will start to see estimates from trade firms early next week as to predictions of yield and final production for 2019. 

If you haven’t already, consider putting offers in for crop sales across the board. They work very well in a volatile market.

Have a good day!