Tidbits, Markets & SD Feedback, Brazil & Argentina Crops, Meat, Weather, Export Sales 8/14/26
- Wright team
- 11 minutes ago
- 5 min read
Tidbits
Soybeans and wheat held up well yesterday after Wednesday’s gains, but corn gave back almost half of Wednesday’s gains despite some Wednesday reports that a derecho may have extended from South Dakota to Virginia. While there was a lot of wind and water damage to crops and buildings, when the sun came up Thursday, the corn crop was not damaged nearly as bad as some analysts suggested.
The bullish news for corn that is not going to go away is that both the old and new crop corn exports were increased by 75 million bushels. Corn prices are still very low compared to its value as feed or ethanol and that is not going to change until corn gets well over $5 or the economy crashes.
Feedback from Dan in SD:
“Finally got a rain in East Central SD this morning. Rain is still very spotty. Mitchell, SD is very short on rain. We had 1.50 to 2.50 inches this morning. Mitchell only had 10 hundreds. Corn pinched off the ears pretty good. There are places where the corn didn't even tassel. Silage cutting has been going on for 2 weeks in places. Hay is $250 to $320 for grass hay and alfalfa bringing $300 plus per ton. DDG is in huge demand.
Running $35/ton higher than a year ago this time. Corn, after yesterday’s rally, is 73 cents/bu higher than last year at this time. So roughly 3¢/bu. corn equals $1.00/ ton higher DDG. So $24 a ton higher ddg vs last year because corn rally. $11.00/ton higher is the basis because of the demand. Cattle are already coming in off grass.”
Flash Sales: The USDA announced yesterday the sale of 125,000 mts of new crop soybeans to China.
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