Corn: steady to 1 higher
Beans: 4 to 5 higher
Corn and beans are both attempting to recover from yesterday’s sell-off. With outside markets stabilizing and with the USDA weekly crop condition report being viewed as neutral the focus is still on Chinese demand and South American weather. Bears have been reluctant to push the short side, but Chinese buying will need to continue, especially with the U.S harvest ramping up, and the issue of yields working lower no longer a major concern.
South America has rains in the forecast over the next 10 days which will be beneficial as Brazil and Argentina begin to plant. Even with these rains, there is still talk of La Nina and its potential to negatively impact the yields there. South America is being closely watched on the belief that China's buying will slow/stop once they believe they are covered up to the beginning of the South American harvest.
With all the uncertainty around demand-driven markets, make sure you are contacting your local GMA to assist you with your marketing decisions. We have several contract offerings that you can lock in futures or a set a floor to help you achieve your marketing goals.
**PLEASE NOTE** The phone number 877-778-2226 will be retired at the end of September. We are encouraging people that use this line to contact their local Landus location or their local GMA. If you need a phone number for either, they are available on our website.