Morning Comments November 26, 2019

NH3 Fall Sunset

Opening Calls:

Corn: 1 to 2 cents lower 

Soybeans: 1 to 3 cents lower 

Yesterday the March corn futures closed 2 ¼ higher, while the January soybean futures closed down 4 ½ lower.

The big news continues to be the snowstorm moving across much of the northern part of the Midwest on Tuesday through the holiday on Thursday. The USDA released its crop progress report yesterday afternoon and it showed corn harvested at 84% compared to the five-year average of 96% harvested. Soybeans are currently at 94% harvested compared to the five-year average of 97% harvested. 

As a reminder, the CBOT will have a shortened week with the Thanksgiving holiday on Thursday. There will be regular trading hours through Wednesday, closed on Wednesday night and Thursday, and then will open Friday from 8:30 am to 12:05 pm.