Morning Comments June 21, 2019

Corn 96770 Pixels Free To Use

Opening Calls:

Corn down 1 

Soybeans down 6

Good morning!

This morning grain is trading lower with corn down a penny and soybeans down six cents. 

Yesterday December corn closed 7 3/4 cents higher and seemed to cover the losses from Wednesday. The weather continues to be a concern with colder and wetter weather in the forecast. The supply and demand situation for corn continues to play out. The unknown yield loss on corn while the USDA projects exports down roughly 10% for the year may present a different carryout number than originally expected. Yesterday November soybeans closed 12 ¼ higher. Soybean acres continue to remain uncertain as it feels like most farmers will plant most of their intended soybean acres because of the incentive from the MEP. New crop soybean sales are lagging with sales down 73 million bushels. 

Have a great weekend!