Morning Comments February 6, 2020

Grain Cornfield Wlandus Cooperative 2016

Opening Calls:

Corn steady to 1 lower

Beans 3 to 4 higher

Beans are rallying despite rumors that China is buying cheap beans from Brazil. South Korea bought wheat from the U.S. and Canada yesterday in the April and May time slots.

Korea bought corn from the U.S. late yesterday. Corn is feeling a lot of pressure from lack of Chinese demand, good crop in Argentina, and more corn acres being planted in Brazil.

A bright spot in corn is ethanol production in the U.S. last week had the 3rd largest production in 31 weeks. 

Soybeans are still heading higher, but are also lacking fresh news to push them higher. They are also feeling pressure from no Chinese demand, soybean harvest in Brazil, and coronavirus in China. 

The Averaging Contract deadline is fast approaching. Producers that have signed up in the past continue to sign up and use this contract.

Our Women in Ag event, Ventures, will be Feb. 15th in Ankeny. There will be a lot of great speakers including Delaney Howell, host of Market to Market on Iowa Public Television. Registration for members is $40 and non-members is $50. An excellent Valentine’s present for the special lady in your life!

Register now!