BASIC & RECENT MARKET INFO

Highlights The USDA numbers were very neutral. There were no changes to the national average prices expected to be paid to farmers for corn, wheat or soybeans. The USDA did not reduce corn exports and did not raise Russian wheat production. Big surprise! The UN is negotiating a year long deal for the export of Ukrainian grain and the market actually thinks it will happen and speculators are selling wheat. Big mistake! Russia said it is withdrawing troops from west of the

USDA announced this morning the sale of: 264,000 mts of soybeans to China 198,000 mts of soybeans to unknown USDA Country Numbers: China...

Highlights Yield Report from far west Iowa: I ’d say a good chunk of western Iowa pretty much all of the river bottom corn is subpar. I know you said you can’t seem to find any but we have a lot. Anything that is not irrigated is terrible. Our first field of dry land corn made 38 BPA. Last year the same field made 235. The field we’re currently on did 275 2 years ago. Our field average currently is 115. Our irrigated ground is very good under the water, but the corners e pret

Neutral Corn Positive Beans Negative Wheat USDA announced 8 minutes after S&D was released today that 526,000 mt of beans were sold to China. Normally, those announcements come just after 8 AM Central.

Highlights China's Dalian futures exchange saw beans trade to a new contract high again Tuesday, the equivalent of US$21.16 per bushel. Bean harvest is at 44% complete vs. 41% expected and 38% for the average. That is a bit bullish because there are less beans in the field than the market expected. Corn at 31% vs. 34% expected and 30% average pace. That is a bit bearish because there is 3% more of the crop still in the field needing to come to market than the market expecte

September S&D The USDA unexpectedly reduced the domestic carryout for both corn and beans by four days' use and the wheat carryover was left unchanged, as expected. The world soybean carryover was unexpectedly reduced by two days with corn and wheat world carryovers unchanged, as expected. That sums-up pretty much all you need to know about the price outlook for all three commodities. Everything the USDA reported on beans yesterday was bullish. Yield was a bushel less than e

USDA September Numbers are Friendly Corn Bullish Beans Neutral Wheat

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Compared to what was expected, the numbers are slightly negative corn, neutral to friendly soybeans and negative wheat.

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Highlights Jon Scheve is a grain market consultant whose weekly comments are posted on our website and, when they are posted, you should be receiving a notice of his post, just like The Tech Guy. Sunday, we talked about how the corn basis indicates corn futures are too cheap. Jon’s post later Sunday included: Last week I mentioned the basis market was indicating a potential futures rally. This week the July corn board did increase, and it also rose faster than September futur