Grain Belt & South America weather update

Scattered rains may cause some harvest delays across the Grain Belt into early October, but little to no rain is expected from the eastern Dakotas down to Kansas and across to southern Illinois, allowing harvest to progress quickly in that area. Less rain is [...]

Corn eases on harvest pressure, COVID-19 concerns

The corn rally may have peaked on Sep. 18 after going six consecutive weeks of higher week-over-week closes. Fears over coronavirus resurgence in Europe, surpassing 200,000 deaths here in the U.S., and increased cases in the Midwest caused a sharp drop in the equities [...]

Expanding acreage in Brazil to boost 2020/21 production

USDA forecasts planted corn acreage in Brazil at nearly 48.19 million acres in 2020/21, up 0.8 percent year on year. A private forecast from Safras & Mercado pegs planted area at 48.56 million acres (19.66 million hectares) in 2020/21, which is 370,000 acres (149,734 [...]

China’s buying spree pushes soy complex to new heights

The soy complex extended its momentous run last week, hitting contract highs for futures connected to the 2020/21 marketing year. A combination of bullish factors supported the move: a tightening balance sheet, a surge in Chinese buying, and ongoing reports of troublesome weather in [...]

August soybean crush below expectations

NOPA members reported crushing 165.1 million bushels of soybeans last month, down from 172.8 million in July and 168.1 million in August 2019. Despite the drop YOY, August’s crush was still the second largest on record for the month. The industry had expected crush [...]

Weather forecasts mostly favorable for corn harvest

Through Oct. 9, NOAA sees an even chance for above-average or below-average temperatures in Wisconsin, Illinois, eastern Iowa, and most of Missouri. West of these areas, the probability for above-average temperatures rises by 5 to 10 points. East of Wisconsin and Illinois, the probability [...]

WASDE lowers corn yield with limited impact on STU

Despite the estimated impact of the derecho event last month, the 2020/21 U.S. corn crop still looks to be one of the largest on record. With a minor boost to beginning stocks, total supply is projected to increase 8 percent over last year and [...]

WASDE: Lower yields to reduce corn, soybean stocks

Today’s reported yield reductions were in line with what the market anticipated. However, USDA’s 2020/21 corn ending stocks forecast was about 40 million bushels above industry expectations ahead of WASDE, while its 2020/21 soybean ending stocks forecast was around 9 million bushels below expectations. [...]

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