Corn producers across the country are scratching their heads and second-guessing why they didn’t sell or price more new crop corn when the December futures were around $4.00. With a low, narrow range over the past few months, they are trading near contract lows now of just below $3.50. Following is the December corn futures chart:
There are many reasons why producers didn’t sell much (if any) new crop corn ahead of the harvest, including:
No one believed the corn yield could equal or even approach last year’s record. Weekly good-to-excellent crop ratings were consistently 10-14 percent below last year’s record ratings. Growers in some key parts of Iowa and Illinois went for more than six weeks with hi...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
