MidCo Morning Comments

Good morning. Prices have traded both sides of yesterday’s close overnight with markets currently in the green. Crude is higher this morning and the Dollar is weaker. A good harvest day is shaping up across the Midwest and the remainder of the week looks good weather-wise with the exception of tomorrow when parts of the Midwest may see some very light rainfall. Next week looks wetter. Excellent demand for soybeans and soymeal is keeping both Gulf and interior basis firm as we work on the tail end of the bean harvest. Expect basis levels to firm further once harvest is complete. Gulf corn was firmer yesterday as some demand is surfacing from Latin America. Soybeans continue to be supported by strong soymeal prices as crushers struggle to meet very strong domestic and export demand after starting the new crop year with a pipeline that was almost completely empty. Funds buying has helped to push corn and bean markets higher in recent sessions. Fundamentals remain bearish, particularly for soybeans. Early strength today may be tempered later by harvest pressure.

6 to 10 Day Outlooks

Temperature

6 to 10 Day Outlook - Temperature Probability

Precipitation

6 to 10 Day Outlook - Precipitation Probability

8 to 14 Day Outlooks

Temperature

8 to 14 Day Outlook - Temperature Probability

Precipitation

8 to 14 Day Outlook - Precipitation Probability

Hugh Whalen|Commodity Risk Consultant | MID-CO COMMODITIES, INC.| Ph: 309-557-6010 | Fx: 309-828-2822| hwhalen@mid-co.com

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