Morning Comments February 7, 2020

Grain Marketing

Opening Calls: 

Corn 2-3 higher

Beans steady to 1 higher

Trade is happy with the export sales report from yesterday showing the last week’s sales were at the top end of expectations for corn and soybeans. They were also a little frustrated with deferred sales for 2020, coming in below expectations. China accounted for more than 50% of the business. Trade is still watching how South American crops are developing and harvest is progressing. Also, wondering when will China start purchasing?

February WASDE report will be out on the 11th at 11 a.m. Lean Hogs will trade expanded limits again today and have had a pretty good week. 

Averaging Contact expiration is fast approaching, don’t forget to put some bushels in this program.

Ventures will be on Feb. 15th in Ankeny. Lots of great speakers and market intelligence! Register today: 

https://www.landuscooperative.com/news-events/blog/ventures-2020