Morning Comments November 14, 2019

Grain Podcast

Opening calls:

Corn: steady to 1 higher

Beans: 2 – 3 lower 

Corn and beans traded lower yesterday with favorable growing weather in South America, wheat turning lower after a strong Wednesday, and continued unknowns about a trade deal. Concerns are rising as China seems not to commit to the phase 1 ag purchases, but many questions what the actual China bean demand is with ongoing African Swine Fever in their hog herd. The biggest thing to watch is the continued strong corn basis, consider using the Extended Price Contract for harvest delivered corn. Combines should get rolling again with the warming weather and dry forecast this week, and please be safe the remainder of this season.