Morning Comments February 25, 2019

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Opening calls:

Corn up 2 to 3 cents

Soybeans up 7 to 9 cents

 

Good morning,

 

Grains are trading a higher this morning with corn up 2 to 3 cents and beans up 7 to 9 cents. Some big news from President Trump over the weekend as he tweeted that he would be delaying the tariff increases on Chinese goods that were originally scheduled for March 1st due to positive trade talks. Corn is following that news trading up this morning as traders are optimistic about corn sales to China. The trend indicator for soybeans turned up last week as soybeans are following the news and trading higher this morning. However, traders are attempting to assess how big of an impact the news will actually have as far as the USDA’s production estimates, good South American weather, and the low Chinese demand for soybeans and meal due to African Swine Fever.

 

Reminder – Many of our NW locations are closed until noon today due to road conditions. Detailed list: http://www.landuscooperative.com/news_release/locations-opening-late-mon-feb-25-2019/

 

Stay warm out there and thank you for your business!