STATELINE COOPERATIVE’S MORNING COMMENTS 5-25-18
Corn: Corn higher this morning following wheat…again. Agroconsult lowered their estimate of Brazil’s second crop corn by 3 mmt to 57 mmt. They may lower again in coming weeks. Crude oil down $1.66, at $69.03/ barrel. OPEC expects oil supplies to increase later this year.
Soybeans: Soybeans higher with concerns in South America. With delays in loading soybean meal at Santo and a slower crush in Argentina supporting this move higher. Argentine crop now 80% harvested. Dollar is higher this morning at 94.110.