Morning Comments October 18, 2019

Grain bins dryer

Opening Calls:

Corn: Down 2 to 3

Beans: Steady to 1 higher

U.S. ethanol production last week was reported at 285 million gallons, up from previous week, which is the 3rd production increase in a row. Production is still almost 4% less than the same time last year.

This morning we will see the USDA’s weekly export sales report. 

Corn market is not getting support from wheat this morning, so falling backwards.

USDA will resurvey North Dakota and Minnesota in the near term to see how much “loss” came from the recent snowfall.

Beans are steady. Nothing really new for traders to trade on.

November soybeans are trading a couple of cents away from the highs on June 18th.