Morning Comments May 7, 2020

Johndeere Planting 51

Opening calls:

Corn: 2 to 3 higher

Beans: 4 to 6 higher 

Good morning!

Grains trading higher this morning as crude oil and energies keep rallying to support commodities. Also supportive to the market is demand news for China, and on colder than normal temperatures in the Central and Eastern Corn Belt. We saw export reports this morning of 686,000 metric tons of corn sold for delivery to China. The market is pleased to see China execute some sales as per the trade agreement. Weather and energies remain in the spotlight as planting progress continues and is pretty much finished up in the key crop-producing states. 

Frost threat remains for the central/eastern corn belt as we still see unseasonably low temps.

Have a good day!