BASIC & RECENT MARKET INFO

Question about the value of the dollar versus corn: "Looking back to 2021 when corn prices were way higher, I compared it to the value of the US dollar and it did not really look like that was a major contributor. So, what stars lined up to cause the rapid increase and high price of corn??? Or am I misreading the dollar vs. corn chart?"   The facts: We have all heard a thousand times over the decades that a lower (exchange rate) dollar is bullish for commodities because forei

Highlights The US dollar rallied sharply yesterday midday trade at its highest level since May 1st.   With the exception of North Dakota, the weather outlook was not so bad in the Corn Belt, so profit-taking on a Friday after two up-days in corn and beans.   The government weather gurus have announced that the El Nino episode has officially ended and the world is in a state of ENSO-neutral conditions, but La Niña is coming, probably a month later than expected a month ago. Sa

Highlights December corn closed above its 100-day moving average on Thursday, which attracted more technical buying on Friday.   Non-farm payroll showed 175,000 jobs added in April vs expectations of 240,000 to 283,000. Unemployment is estimated unchanged at 3.8%, but it was up a bit at 3.9%. Both indicate the economy is not doing as well as expected. That poor economic news yesterday morning knocked crude oil from 60¢ higher to a dollar lower on the idea US crude consumption

Highlights The weekly US Drought Monitor this week has corn producing areas in a certified drought increased by 8% to 34% overall. Humidity yesterday afternoon in Ohio was in the 25% area, Indiana was in the 35% area and most of the Corn Belt States further west and north were in the 45% humidity level. The Senate passed the debt ceiling bill late Thursday 63 to 36. All markets breathed a collective (but unnecessary) sigh of relief. The USA was never going to default on it

Highlights At 11 AM Central Time today, the USDA will issue the following reports: Today is the last day of the soybean meal and soy oil marketing year. It is also the last day of the US government fiscal year. Government procurement staffers have been working overtime for three weeks to spend the remaining balance of funds allotted to their department before midnight tonight, when they have to give back what they don't spend and see reduced budgets for the next fiscal year.

Highlights Yield report Lewis County, extreme NE Missouri: Corn not quite as good as last year's corn. Soybeans are half; dry August. Thanks, Ryan. The US dollar was sharply lower yesterday and just about everything else was higher yesterday. Even the stock market was up (Dow up 548 points) even though Apple said its sales of the newest I-phone were very disappointing. The reason for the dollar weakness was Bank of England staged a dramatic intervention to stave off a suppose

Highlights Carrol County, West Central Iowa Yield Report: I took a field of corn out. Average 235 dry. It was green snap and Goosenecked bad from July 5 storm. Slow going, but very happy with the yield. Thanks, Dan. Clark County, West Central Ohio where the weather has been very good most of the year: Early maturity beans on several farms running 62 to 67 bushels, about the same as full season beans. A 60+ year old neighbor thinks his corn and beans will be the best yieldi

Highlights

USD gaining strenght

Highlights India is in the final discussions with Egypt to close an export wheat deal. Egypt’s supply minister said his country has...