Highlights
Crop progress:
The nation’s corn crop is 45% harvested, 3% ahead of the 5 year average; the market expected 46%.
The beans are 62% harvested, 10% ahead of the average; market expected 57%.
Cotton is 33% harvested, 1% ahead of the normal harvest pace.
Winter wheat is 68% planted, a perfectly normal pace.
You can access all the crop condition and state by state progress at grainstats.com
The NOPA September soybean crush was reported midday yesterday to be 165.456 million bushels; the market expected only 160 to 162 million bushels (some as low as 155 million). It was a record large crush for any September.
Soyoil stocks were just 1.108 billion lbs., the lowest oil inventory since December 2014. The market expected oil stocks to be 1.208 billion lbs. A hundred million pounds of oil is a lot of oil!