Beans: steady to down 1
Corn market closed unchanged again yesterday with a lack of news to move the market. The USDA’s weekly export sales report came in at just 19 million bushels, below the pace needed to meet forecasted export sales. Harvest continues to progress in the U.S. with a positive weather forecast for the next few days and talks that yields have been coming in at average to above average. Traders are also keeping an eye on the weather in South America as planting continues and beginning to speculate on the 2020 US corn crop size if this year’s prevent plant acres come back into production.
Beans closed mixed yesterday with the weekly export sales down to just 476,000 mt. Reports that China may commit to $20 billion in purchases of US ag products annually as part of a trade deal could help boost that, but traders waiting to see if it happens.
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Here's a glimpse of our harvest update we shared in this week's issue.
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