Opening calls:
Corn steady to 1 higher
Beans 5 to 6 higher
Soybeans are currently trading at a 6 week low. Compared to this time a year ago cash price at Boone today is $8.02 vs a year ago at $8.25.
Soybean funds are also getting more bearish in their position. U.S. and China talks continue and are quoted as “getting closer” to a trade deal.
Reuters poll that was released is estimated an increase in corn production for Brazil about 3.5% more hectares.
Weather right now in Argentina is dry and the forecast is for very little rain in the 7-10 day.
