Corn: 1 to 2 lower
Beans: steady to 1 lower
The corn market closed lower yesterday with improved weather in Brazil and ahead of this morning's WASDE report. Yesterday the Brazilian Real fell against the U.S. Dollar which will add to the difficulty for the U.S. to compete for additional corn exports. Corn will need additional buying from China in order to rally in the nearby as we wait for the phase one trade deal to kick in.
Soybeans closed up slightly as traders report that funds were shorter than expected and rumors surfaced that China had purchased some new crop beans from the U.S. The bean market will remain under pressure as the Brazilian harvest continues to get underway and we wait to see quantities China may purchase.
The deadline for the new crop Averaging Contract is quickly approaching – contact your local Grain Marketing Advisor to learn more about how this contract can fit into your marketing portfolio or call the trading floor at (877) 778-2226.
We are also only FOUR days away from our women in ag conference, Ventures. Many great speakers and topics are lined up including Delaney Howell. This is a conference you won't want to miss! Register TODAY! https://www.landuscooperative.com/news-events/blog/ventures-2020