Morning Comments January 24, 2019

Overnight trade:

Corn down 1-2

Beans down 2-3

 

Harvest is coming earlier than normal in Brazil. So China is getting those early beans at a $3.00 per bushel discount compared to U.S. beans. If/when the tariffs are lifted, then the U.S. beans will be cheaper than the Brazil beans.

 

Corn and beans are still trading in their “range bound” trading pattern. With no new news, commodities don’t feel that they have to do too much one way or another.

 

Infoma came out yesterday and decreased their December acres by 440k, but still 2.4 million acres over last year.