Corn: Up 2
Beans: Steady to 1 higher
Corn closed down yesterday again creating new contract lows partially due to weak demand and a weather forecast that is favorable for the near future. Lack of demand plagues the corn market as ethanol margins continue to be low and exports are down due to increased competition from South America. The bean market closed higher yesterday with the November contract 7 cents higher and up slightly this morning. There is new optimism with trade talks between the US and China resuming and the USDA announced the sale of soybeans to Mexico. Weather will remain the focus as well for soybeans as many northern states have yet to set pods and are at risk even with normal frost dates, and the yield and maturity of the crop is heavily debated.
If you're still looking to move old crop corn we are now offering a split bid for nearby delivery, with a premium for corn contracted AND delivered by September 13th. This is a limited time bid – for questions please call 877-778-2226.