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Quotes retrieved on March 19, 2019, 02:40:29 AM CDT



SLC Commentary

StateLine Cooperative Evening Comments 3-18-2019

 

Corn: North Burt down 2 @ $3.39

  • The corn market traded lower on a slump in weekly export inspections data and ideas of increased SA corn production totals. The US sees stiff competition from Argentina, Ukraine and Brazil, currently. 
  • Closes: May at $3.71 ½, down 1 ¾ cents, July at $3.80 ¾, down 1 ½ cents, and December at $3.94 ¾, down 1 ¼ cents.
  • Weekly inspections were reported at 795 tmt, in line with trade estimates of 750-950 tmt.
  • The Argentine corn harvest is underway with last reports at 6-7% harvested.Ideas are that their crop will get bigger as the farmer gets further into harvest.

Soybeans down 4 @ $ 8.11

  • Soybeans prices were lower on lack of progress toward an agreement on the US/Chinese trade talks. Prices saw additional pressure stem from ideas that a late spring planting season could show bean acres the same or higher than last year’s 89.1 million acres. 
  • Brazil’s bean harvest was said to be near 65-70% complete with little or no issues. Farmers were also said to have been active sellers of beans of late
  • Closes: May at $9.05 ¾, down 3 ½ cents, July at $9.19 ¾, down 3 ¾ cents, November at $9.39, down 3 ½ cents. The products were mixed with meal down a buck and oil up 1 point.
  • Weekly export inspections came in at 842 tmt, near the low end of trade estimates at 800 tmt-1.0 mmt.

 

 

 

 

 

 

 



Forecast
Burt, Iowa (50522)
Current Conditions Few Clouds
Temperature 32°F
Dew Point 30°F
Pressure 30.28 in. Hg
Humidity 93%
Wind 7 mph
From South


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