Morning Comments October 6, 2020

Sillouette Harvest Sunset

Opening Calls:

Corn: 2 to 3 higher 

Beans: 10 to 12 higher 

Overnight and into this morning, markets are rallied on further planting delays in South America. The supply side of beans is already tight in the southern hemisphere as farmers are further delayed with dry weather. This points to China looking to the U.S. early next year as a continued buyer this year. Friday’s WASDE report is expected to have a bullish tilt, but bulls are eager to see more yield data. Yesterday, bean harvest was reported as 55% complete in Iowa. 

It seems the report on Friday might have a chance at putting ending stocks below the 2.0 billion bu. mark for corn. Iowa was 25% complete on corn harvest vs. a 5 year average of 10%. Harvest is expected to chug along this week as the forecast appears to be ideal. 

We know you are busy but have you thought about what you’re going to do with the bushels you’re taking home and putting in a bin? Specifically, as you start to core bins in January, we think there is an opportunity to lock up some of the current carry in corn. At this point, there is NO carry in the futures market for soybeans. And for cash, at most of our locations, we are paying the same for October delivery as we are for January delivery on soybeans. 

Please note: if you are using the phone number 877-778-2226 to contact us, OR if you have it stored as a contact for Landus, we have discontinued using it. In an effort to better serve you, we are asking that you contact your local Landus facility or one of our Grain Marketing Advisors directly. Phone numbers for all of these can be found on our website:

https://www.landuscooperative.com/about-us/locations

https://www.landuscooperative.com/grain/grain-marketing-advisor