Corn: penny higher
Beans: 2 cents lower
Grains trading mixed this morning as fundamental news in the market remains light. Traders continue to watch the wild U.S. weather and the calendar as we near close to spring fieldwork in the Midwest. Private analysts Allendale came out with 2019 acre estimates yesterday. They have corn at 91.5 million acres and beans at 84.3 million acres. All acre estimates from these firms are in a very tight range. It seems they all are thinking the same thing, at least for now. On the political front we are still waiting on confirmed positive news from U.S. and China.
Despite the weather, I hope everyone has a great day! It looks like we will get a break in the forecast next week.