Corn: steady to mixed
Beans: steady to mixed
March corn closed 3 1/2 lower yesterday at $3.79 1/2 as concerns still linger on the long term impact of the Coronavirus on the market. Argentina’s corn crop is now rated at 98% fair to excellent and the trade will now be looking to the USDA’s Outlook Forum on February 21st to see the new crop balance sheet assumptions. The corn market is trading steady to mixed this morning as no new major news or exports have occurred to help with a nearby rally.
Soybeans closed higher yesterday with the March settling at $8.96 1/4 in response to fund short covering. The phase one trade deal with China will go into effect this weekend so traders are watching to see if that brings China demand to the market place in the nearby.
A reminder that the markets will be closed Monday in observance of President’s Day.
The deadline for the new crop Averaging Contract is quickly approaching – contact your local Grain Marketing Advisor to learn more about how this risk management tool can fit into your marketing portfolio or call the trading floor at (877) 778-2226.
Saturday is our women in ag conference, Ventures. If you were not able to pre-register and want to attend we are taking registrations at the door. $40 for members, and $50 for non-members. Delaney Howell, is our keynote speaker. We'll cover many practical, ROI driven topics. This is a conference you won't want to miss!