Grain Exchange – 5/14/2020
Happy Thursday everyone! I’m sure most people were thankful to wake up to some rain this morning, giving our seeds a much-needed drink. Looks like to follow the rain is a little bit of warmer temperatures. Hopefully this will get 2020 crops going!
Corn is down 1-3 cents this morning, but there has been some positive news. Exports are still holding, and ethanol margins are improving. However, the market is ranged bound with the large stockpile and an expectation of another large crop coming. South America is still plugging away at harvest with yields improving every time they report.
Soybeans were down a dime yesterday and thankfully are starting to recover today. Exports have been neutral. Basis has been firming on the beans with positive news of China purchasing beans, meal, and oil.
Wheat has had a couple down days in a row and is now trading even. Production European Union is expected to be lower than predicted due to drought and winter kill. Holding the wheat down would likely be US reported higher acres planted in the southern states an initially intended and Argentina is expected to plant more wheat that ever before. We can’t forget about Australia; they have plenty of moisture to help get their crops started which is a totally different story than what they saw just a few short months ago.
As the markets are ever changing the Landmark Grain Team has been working finding opportunities for producers. To find out your options call your local marketing specialist. Although we don’t have control of the CBOT maybe we can help you find pennies that may otherwise be lost.
Make it a good day!