Highlights, ENSO, Export Inspections, Markets & Rain Days Update 10/12/22

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 expected.

Cotton is 29% harvested and the normal pace is 25%. Yep, that is a bit bullish.

Sorghum is 46% harvested and the normal pace is 41%. Yep, that is a bit bullish

Winter wheat planted is 55%, which is what was expected; 58% complete is the 5 year average.

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