Morning Comments January 18, 2019

Opening calls:

Corn steady to up 1 cent

Beans up 3 to 5 cents

 

Good morning!

 

REMINDER: Markets will be closed Monday. Trading with resume at 7:00 PM Monday night.

 

March corn closed 6 cents higher yesterday at $3.80. We saw a nice boost in the markets yesterday on talk that China made/is going to make a purchase of corn from the U.S. As with most “news” lately we have no real numbers at this point to support the claim, but we did see improvements in PNW corn basis which could be an indicator.

 

March soybeans closed 13 ¼ cents higher yesterday at $9.07 ¾. Along with the possibility of China buying U.S. corn, we heard rumors that the U.S. was considering lifting tariffs on some Chinese products. Again nothing confirmed, but trade remains optimistic and after several weeks of no news out of the talks, we seem to be willing to take what we can get at this point.

 

Have a happy Friday! Stay safe and smart if you need to be traveling as much of our area is under a Winter Storm Warning this afternoon through tomorrow morning.