In this week’s newsletter, we update our new crop global corn balance sheet, as well as discuss the pace of South American corn exports. The season’s last crop condition yield model is also included. Click here to read this week’s Weekly Report
EU and Black Sea wheat markets were quiet and little changed, while US futures fell 5-6 cents, basis KC/CME, amid the coming shift to wetter Central US weather. This will especially benefit the SRW Belt, which has been extremely dry over the last 45 days, and soil moisture is noticeably lacking. Much of MO, IL,…
Dec corn tested its contract low this AM, recovered slightly thereafter, but again traded in just a 3-cent range. There’s still no compelling evidence to support a major move in either direction in the near term, and instead corn looks to be a follower of neighboring wheat and soybean markets. US ethanol production last…
US Forecast Trends Wetter Again; Confidence Rising on Follow Up Rain mid-October: The models this evening are a bit wetter in the E Corn Belt through late next week, and also maintain chances for a second round of widespread precip beyond Oct 15th. Slowly waterways will be replenished, though a lasting pattern of normal/above normal…
Early selling in the soybean market found demand, that put soybean prices 2-3 cents higher at the close on Wednesday. Market news has been exceptionally slow this week, and China remains on holiday. In the soy product markets, soyoil was able to build on Tuesday’s recovery, and meal slipped lower on product spreading. Commodity fund…
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