Morning Comments May 8, 2020

Challenger1000 Series Tractor Planting

Opening calls:

Corn: 1 to 2 higher

Beans: 6 to 7 higher 

Good morning!

Grains trading higher this morning following through from yesterday’s rally to end the week. It was rumored on Thursday that China bought as many as 6 cargoes of US beans for August and September delivery. US and China trade representatives both claiming they expected Phase 1 trade obligations to be met. Cooler than seasonal temps remain in the corn belt with the majority of crops in the Midwest planted. Crude oil and energies being stronger is also still supporting the grain trade. Not much for fundamental news at the moment…we’ll see what the weekend weather brings. 

Have a great weekend!