Morning Comments November 25, 2019

Bradford plot harvest

Opening Calls:

Corn: Steady to 1 higher

Beans: Steady to 1 higher

Holiday shortened week this week, with the CBOT open regular hours through Wednesday. Closed Wednesday night and Thursday. Open Friday from 8:30 AM to 12:05 PM.

The main market feature this week is the impending winter storm moving through the upper half of the Midwest. We will also see the latest harvest progress report this afternoon. Soybeans should be close to done in most areas, while there is still quite a bit of corn to harvest.

In political news, there are reports that China has increased the penalties for Intellectual Property violations. There continues to be talk of the White House and Congress coming to an agreement on USMCA (NAFTA 2), but this might take a few more days. The next scheduled tariff increases are due Dec. 15th. There is a WASDE due on December 10th, but most eyes are on the January report, as that is when the USDA typically adjusts production numbers with harvest info.