Grain Exchange – Weather News Today in the Midwest
Weather news today in the Midwest is now calling for a chance of frost for Minnesota, Iowa, Wisconsin, and Northern Illinois on October 11th. This along with the large amounts of rain being seen are continuing to threaten the yields for fall harvest. However, the 6-10 day forecast does show some dry weather for early next week. Temperatures are colder as we move into the end of the week, and the forecast is showing upper 20s to low 30s for the end of next week.
Some good news out of trade talks for the dairy industry today as China announced that they will exempt 16 US Goods from the 25% retaliatory tariffs. China, which is the world’s largest pork consumer, has waived tariffs on whey permeate and fish meal, both of which are key ingredients in the diets of piglets. While this is good news for the dairy industry, Proliant, an Iowa-based company that sells the by-product says that sales will still be down due to the herd losses from African Swine Fever.
The World Trade Organization also ruled yesterday that the US could issue tariffs against the EU. The US will place $7.5 billion tariffs against Europe. This is the largest amount of tariffs placed on the US since the steel and aluminum tariffs.
Markets have been trading back and forth this morning as we watch things consolidate since the September 30th stocks report. With a late start to harvest, take some time to look at your marketing plan and decide if this recent jump in prices is a late opportunity to get some bushels sold.
As always, give us a call if there is anything we can help you with!
Have a great day!