News

MORNING COMMENTS

Good Morning    

Current Markets as of         8:25        Tuesday, November 20, 2018

 

Month                        High                                   Low                                     Change                                        Last

Dec 18 Corn               $3.63 ½                          $3.62 ¼                             $ + ½                                           $3.62 ¾                                                      

Dec 19 Corn               $3.97                               $3.96                                  $ + ¼                                           $3.96 ½                                                              

Jan 19 Beans              $8.77 ¾                         $8.70 ½                            $ + 2 ¾                                        $8.76 ½                   

Nov 19 Beans             $9.25                              $9.19 ¾                            $ + 3                                              $9.25       

  

 

Oil    $56. Lower      Gold   $1,226   Higher     Dow $24,640   Lower      Wheat $4.99 Mixed

 

A Holiday shortened week as grain markets will be closed Wednesday night and Thursday, November 22nd in observance of Thanksgiving. Markets will re-open at 8:30am on Friday, November 23rd and will close early at 12:05/12:15pm CST. 

The Des Moines ethanol low rack price is $1.60. This is $0.1647 lower than the unleaded gas low price of $1.7647. 

The grain markets are mostly quiet following yesterday’s sharp sell-off in the soybean market. World equities continue to sink on the fear of slowing demand for tech products 

Mexico has authorized 26 Brazilian meat plants to export chicken products into the country as the two nations strengthen ties with trade partnership opportunities. The US is Mexico’s largest chicken supplier, selling 675,653 tonnes last year which compares to Brazil having sold 95,500 tonnes.

 

Corn Support is $3.60 and resistance is $3.78.  Beans Support is $8.63 and resistance is $9.06. Funds sold 25 Million (5,000 Contracts) of corn and sold 60 Million (12,000) contracts of beans Monday.  Just over 97,000 contracts traded last night.  

 

Weather: The weather outlook remains similar for much of South America with the EU 10-day model suggesting an additional 3-7” of rainfall for Mato Grosso, Mato Grosso do Sul and Goias. Argentine weather remains mostly conducive for crop development

 

EARLY MARKET FEATURES

Corn – Steady to ½ cent better

Beans – Steady/better and the US/China remain without a trade deal

Have a great Tuesday!   Darren, Brady and David

Gold-Eagle Cooperative Providing Quality Services and Products Innovatively, Profitably, and Professionally. 

Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now

×