November CBOT options expire Friday.
From far west Iowa, a little closer to Sioux City than Omaha, Andrew reported Saturday evening:
"Finished 2500 acres of beans with an average of 57 bpa. We had about 1300 acres of irrigated beans out of the 2500. We are disappointed with the yield overall. Started corn yesterday and the first field made right at 100 bpa. 89 bushels under aph and 147 bushels less than last year right across the road on identical soil. Dryland corn is ugly across a big chunk of western Iowa. Since 9/8 basis has firmed 13 cents on corn at our local elevators and 10 cents on beans. It will only get stronger I believe."
As the market expected, the nation’s corn crop is 59% harvested, which is the same pace as a year ago and 5% ahead of the 5 year average.
The beans are 76% harvested, 2% behind a year ago, 9% ahead of the average, but 1% less than the market expected.
Cotton is 41% harvested, 3% behind a year ago, but 2% ahead of the normal harvest pace.
Winter wheat is 77% planted, 1% behind normal and 2% less than the market expected.