Grain Exchange – 10/6/2020
There has been a lot of excitement in the market over the past week. The USDA Grain Stocks report which was released last week informed us that the US Grain Stocks were lower than expected resulting in a nice pre-harvest run up. These strong prices continue to hold. There has been some movement in the corn market over Monday night gaining a few cents. The soybean market continues to stay strong and has moved up nicely overnight into Tuesday morning up 12 cents. There is another USDA Crop Production and WASE report coming on Friday October 9th. Expectations are that yield will be lowered again. People are predicting that corn yield will move from 178.5 bpa to 177.7 bpa. Soybeans from 51.9 bpa to 51.6 bpa.
IT IS HARVEST TIME!
The weather outlook for the next 6-10 days is promising with multiple days of warm sunshine to help finish drying this crop down. Rain is for forecasted for the early part of next week with following sunshine for the rest of the week. Harvest has gained serious speed over the last week in the US. The US corn crop is 25% done. Iowa 22%, Illinois 26%, and Minnesota 14% finished harvesting corn. Wisconsin corn harvest continues to ramp up with 8% being finished. Wisconsin is 16 days ahead of last years harvest and one day a head of the average! Corn saw a 3% bump in the G/E, moving it to 80%. Wisconsin farmers continue to wrap up corn silage with most of the state being done at 90% complete.
Soybean harvest is cruising along in the US with 38% completion. Iowa 55%, Illinois 25%, and Minnesota 61% finished. Wisconsin is 18% complete which is 11 days a head of last year and two days ahead of the average. Soybeans condition improved over the last week moving up 4% to 83% G/E. The improvement in Wisconsin’s G/E is exciting news and hopefully shows up in the yield as combines start rolling in the fields.
Wheat has shown some strong pull in the market. Dryer weather conditions in several countries along with lower US stocks have helped this market rally.
As harvest picks up do not set aside grain marketing! Start looking ahead to successfully market this 2020 crop!
Remember Landmark’s harvest hours are in full swing at ALL GRAIN LOCATIONS.
- Mon-Sat 7:30 AM – 7:30 PM
- Sun 10:00 Am – 6:00 PM
Below are the links to Landmark’s Discount Schedules.
Stay safe and harvest on!