Corn: steady to 1 lower
Good Morning –
The corn market closed lower yesterday with March down 2 cents. The release of the USDA’s WASDE report raised estimated ethanol usage while equally lowering exports. The 1st Brazilian corn crop is now 19% harvested and the 2nd corn crop is 14% planted. With improved weather in Argentina and the weakened Brazilian real it will take news of additional exports to China to rally the corn market in the nearby.
Soybeans closed steady to higher yesterday with the March contract up ½ cent. The WASDE report showed an increase in exports, however due to the Phase 1 trade deal these numbers had already been anticipated. The bean market will remain under pressure from Brazil and will need to see additional purchases form China to move the market.
The deadline for the new crop Averaging Contract is quickly approaching – contract 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 THREE 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