Morning Comments October 10, 2019

Grain Lol Corn Free To Use

Opening calls:

Corn unchanged to down 1

Soybeans up 1 to 2

Good morning!

Minor movement in the grain market this morning.

Today, we will see the release of the USDA’s October WASDE report at 11 am. There is an expectation from some that the corn and soybean carryout may drop due to lower yields, with the average yield estimates at 166.8 for corn and 47.10. Trade will be looking for deviances in the range of estimates to move the market. Trade talks with China resume today as the Chinese have said they are looking to purchase more agricultural products from the U.S. The concern for weather coming into the Northern Midwest with snow and frost potential continues to support the soybean market with many beans still yet to be harvested.