Morning Comments February 15, 2019

Soybean Harvest Close Up 2016

Opening Calls:

Corn up 1

Beans up 5

 

Yesterday the March corn contract closed 4 cents lower settling at $3.74 ¾, and the July contract was 3 ¾ cents lower closing at $3.90. The corn market fell after a disappointing export sales report, no fresh news on the U.S./Chinese trade talks, and Argentina’s corn crop is planted and looking good. The March soybean contract closed 13 cents lower settling at $9.03 ½, and the July contract was 12 ½ cents lower closing at $9.31 ¼. Yesterday’s release of the soybean export sales report, from the last 6 weeks, showed disappointing numbers and cancellations to China. With the lack of news from trade talks, it is tough to be a bull.