Morning Comments March 16, 2020

Ripe maize corn ear on cob in cultivated agricultural field ready for harvest picking 1920x1080 full hd footage mkqjkjyi F0000

Opening calls

Corn down 4 to 5

Beans down 3 to 4

This morning, we note that gasoline futures are down 28%. We would expect this to pressure ethanol futures as well, and subsequently corn. Grain prices are also pressured by equity markets as the DOW futures traded lower overnight. Crude is now under $30 a barrel, as the Saudi and Russia continue their market share war. The Federal Reserve slashed interest rates to zero on Sunday and the House passed a COVID-19 relief package. 

As you may have noted late last week, we are curtailing a lot of travel across the company. As such, our Grain Marketing Advisors will be working out of one location instead of rotating between locations. This out of an abundance of caution for the health and safety of you, our customers, and our employees. For the time being, we will be communicating by phone, text and/or e-mail. But, rest assured, we stand ready to assist you with any marketing questions and concerns you may have.