General Comments Corn and wheat markets were sluggish overnight while soybeans exhibited some strength based on disappointing rains over the weekend across the northern Corn Belt. The market was also quiet ahead of the 11 AM (CDT) USDA reports. Two factors changed the tenor of these markets today:
USDA announced the sale of 713,000 MT of soybeans to China plus another 140,000 MT to unknown and 252,000 MT of corn to Mexico. The USDA reports were bullish (detailed in today's analysis).
The markets were caught leaning the wrong way today when the USDA report cut the corn and soybean yield estimates and ending supply numbers. December corn traded as much as 15-16 cents higher with November soybeans trading as much as 46 cents high...
What You Need to Know Today: U.S. weather is getting more attention this week as conditions vary greatly across the western, central, and eastern corn belts, with the different regions battling dryness and too much rain simultaneously. The ProFarmer Crop Tour began today in Indiana and Nebrask...
Key Takeaways: Argentina is on pace for a record corn crop and record exports in the current marketing year, with abundant supplies likely to keep the country highly competitive in global export markets. Argentina’s record exportable surplus is allowing it to offer highly competitive pri...
