Corn: penny lower
Beans: 2 cents lower
Grains trading lower this morning as the trade is patiently waiting for more production indications. Initial yield reports are favoring the disappointing side, but it’s still early as traders are anxious for producers in the heart of the corn belt to get rolling. Aside from fundamentals, China is due back in the US this week for more trade discussions. Confirmed recent China bean purchases are now at 27 million bushels roughly; well below trade estimates. Outside markets don’t seem to excite grains right now as crude oil remains active, as well as the US dollar. Weather remains the main pressure point for our commodities as the forecast still has wet and warm days ahead to finish out September.
A few loads of new crop beans came in across Landus territory yesterday! Looks like we might be battling some rain in the area the next few days.