Morning Comments, August 20, 2020

Harvesting Soybeans

Opening Calls:

Corn steady to one lower

Beans down 4 to 5

Corn and soybeans traded lower overnight and into this morning with improved rain in the forecast. 

Here are some updates from the Pro Farmer tour yesterday, remember Landus 2020 Crop Tour starts Monday and will wrap with a webinar on September 2nd.

  • The Pro Farmer Crop Tour estimated Illinois corn yields at 189.4 bpa versus 171.17 last year and the three-year crop tour average of 181.51 bpa. The tour estimated the average number of soybean pods in a 3-by-3-foot square in Illinois at 1,247.38 pods, up from last year's average of 997.68 pods and the three-year average of 1185.79

  • The Pro Farmer Crop Tour estimated Iowa corn yield in Districts 1 (northwest) at 181.26 bushels bpa versus 184.88 last year and the three-year average of 183.47 bpa. Corn yields in west-central District 4 were pegged at 172.41 bpa versus 192.71 last year and the three-year average of 186.28 bpa. Corn yields in southwestern District 7 were seen at 184.74 bpa versus 186.28 a year ago and the three-year average of 183.92 bpa. 

  • Soybean pod counts per three-by-three-foot area averaged 1,013.31 in Iowa District 1 versus 1,095.93 pods last year and the three-year average of 1,054.75. In District 4, pod counts averaged 1,177.41 versus 1,196.06 in 2019 and the three-year average of 1,204.74. District 7 soybean pod counts averaged 1,164.03 versus 1,221.13 last year and the three-year average of 1,266.65.

Reminder: the last day to roll Price Later contracts is fast approaching. If you intend to roll your Price Later past next Wednesday, Aug 26th, we need your signed paperwork in our office by 1 PM next Wednesday. If not, it will be priced at that time. You can now sign contracts on our portal, so please don’t rely on the mail to get it to us if you haven’t already sent it in. Please contact your local Customer Service Specialist or Grain Marketing Advisor if you have any questions. Thanks

Join us for pre-harvest location updates and a chat with our CEO Matt Carstens. RSVP today: https://marketing.landuscooperative.com/acton/rif/42104/e-018f-2008/-/l-tst:0/l-tst/showPreparedMessage?sid=TV2:in6yb00eT