Crop progress updates will be out today after we recognized our Veterans yesterday. With cold and snow locally, farmers are doing everything they can to try to get the crop out of the field. Dryer weather across the US will push harvest along when assessing the Nation’s progress. Traders expect the US corn harvest to be 65-67% complete vs 52% last week and 84% on average while soybeans harvest completion estimations range from 83-90%.
As this is published, Trump is expected to comment on the US economy as the general tone to trade talks with China has been negative this week. Chinese crushers continue to look to Brazil for new crop beans as Nationally Brazil has 58% of the crop planted vs the 5-year average of 57%. The weather outlook for South America has turned favorable providing rains to dryer areas of the country.