Morning Comments October 23, 2019

Grain

Opening Calls:

Corn: unchanged to down 1

Beans: down 1 to 2

Corn remains steady with no big new to move the markets. The EIA’s weekly ethanol production and stocks report will be out this morning with the assumption it will be up slightly. The weather forecast across the Midwest for the next few days should allow the corn crop to reach close to 50% harvested. South America and Brazil continue their planting progress with South America looking to increase their planted acres by 3% and a record harvested acreage at 24.2 million hectares. Beans trading lower this morning with no new news out of China. Traders are watching to see if China will be looking to purchase more beans from the US or if they will wait to see what becomes of the South American crop.