NASS surprised CBOT traders with a 2019 US October corn yield above September. Traders/farmers were betting that objective yield analysis would reflect a 2-4 BPA decline. The net result is that US 2019 corn production held steady (with September) at 13,779 Mil Bu due to a modest fall in harvested acres due to new and…
AgResource Farm Marketing Advice for Friday: 1/ Corn Producers: Hedge 20% of the 2021 corn crop at $4.24 basis Dec 2021 corn futures. This would price 60% of the 2021 corn crop. 2/ Soybean Producers: Hedge 20% of 2021 soybean production at $9.63 basis November 2021 futures. Brazilian corn exports started to skyrocket in mid-May…
A cooler bias in the Central U.S. due to snow cover.
** The USDA October Crop Report was bearish with US corn yield being higher than expected while soybeans were slightly. CBOT corn and wheat have declined while soybeans have rallied following the report release. US President Trump tweeted this AM that Chinese Vice Premier He will heading to the White House for a meeting on…
New snow cover is likely to bias the Central U.S. thermal pattern cooler in the medium-range.
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