Morning Comments November 20, 2019

Sillouette Harvest Sunset

Opening calls: 

Corn lower

Beans slight higher

Corn is trading lower this morning as lackluster demand, favorable weather, and cheap Black Sea corn pressure the U.S. corn prices. Corn is fighting a battle to drive higher with early talk of an increase in planted corn acres this spring, the weak global economy, and a strong dollar. Beans are trading slightly higher this morning, but in the end, bears are arguing the strength in the dollar, trade negotiations, and ASF could pressure beans lower until we know final harvested numbers in January. See below the drag in the harvest in the northern states as the battle rages on to get the crop out between weather events, with North Dakota dragging behind 47% from last year.

Grain comments harvest pace corn 112019
Grain comments harvest pace beans 112019