Corn down: 3 to 4
Beans down 4 to 5
We are seeing a little set back in the markets this morning from the overnight session, despite the lower crop ratings Monday. We should expect to see more of this bouncing up and down over the next 30 to 45 days as harvest data rolls in. Some areas in the U.S. are going to see record yields, and others, like Iowa, are going to see both sides of the coin: very low yields and very high yields based on geographic location.
China purchased more corn from the U.S. this week. The big question is how big is their appetite. We are hearing from some analysts warning that China is front loading their purchases this year and could, perhaps will, come to a screeching halt at some point. Time will tell on that.
We have another webinar on the Landus 2020 Crop Tour at 5 PM. If you haven’t registered, there is still time – click here.