Morning Comments September 20, 2019

Sillouette Harvest Sunset

Opening Calls:

Corn: Down 1 

Soybeans: Down 3 – 4 

Yesterday the corn market closed higher with a good export sales report and strength at the local level with basis. For now, it’s a wait and see game on when harvest will really get a start and what the yields will be. Weather conditions seem to be non-threatening for most of the Midwest with the forecast not showing a sign of frost in early October. 

The soybean market closed up 4 1/4 yesterday, with positive numbers coming from the weekly export sales report. There have been some soybeans harvested, but really not enough to really get a feel for the yields. The trade is hoping for more soybean purchases from the Chinese but depending on trade negotiations they may be slow to come. African Swine fever has been found in South Korea which means that yet another country will see the impact of the disease. 

Later today, we will release the latest episode of the Landus Cooperative Experience podcast. Along with the normal Bull Bear Banter, we’ll also have a segment featuring Dr. Charles Hurburgh of ISU to talk about grain quality in this year’s crop. Hope you will find time to tune into this informative discussion.