Grain Exchange – 11/10/2020

Grain exchange update with Melissa Schmidt

Happy Tuesday! Markets are up this morning ahead of the monthly supply and demand report at 11am.  Corn yields are expected to drop by 0.7 per acre and soybeans by 0.3 drop per acre. Ending stocks for US and World for soybeans and corn are also expected to drop. The past 6 out of 10 years corn closes lower after this report. Soybean close lower 8 out of 10 years. Make sure to have offers in and working.

Corn harvest is 91% completed vs last year at 62% and on average 80%. Wisconsin is 78% complete on corn harvest compared to last week at 57%. Brazil corn crop has been trimmed 104.9 million metric ton from 105.2 million metric ton.

Soybean prices in Brazil spurred 3.5% increase on planting but lack of rains is a concern. Farmers in Mato Grosso have already sold 65% of the expected crop. Harvest in the US is at 92% complete. Southern states still have beans left to harvest.

Make sure to be watching the Spring market, some of our locations have $4.00 cash corn. Always be a participant in the market. Have you thought about next years crop!? We are about 6 months away from planting. Keep being active in your marketing plan.

Be safe and let’s see what happens at 11am.

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.

https://www.landmark.coop/wp-content/uploads/2020/09/20-corn-discount.pdf

https://www.landmark.coop/wp-content/uploads/2020/09/20-bean-discount.pdf

Landmark’s Cash Bid Link

https://www.landmark.coop/cash-bids/