Grain Exchange – 6/25/2020
After several days of much needed rain we are seeing many of the crops thrive across our Landmark footprint. Rain is one of the likely factors we are seeing red on the Chicago Board of Trade this morning.
Corn is trading lower today. Ethanol production is tapering off as COVID-19 cases rise again. Corn is 72% good to excellent which is up one percent from last week. Wisconsin, Iowa, and Missouri are holding the crop rating up. However, Illinois and Indiana are below 60% good to excellent.
Soybeans are also trading lower than yesterday. The press released that China’s “Phase 1” deal might be over. Differences between the US and China seem to be getting in the way of purchases this week after several purchases in prior weeks. Beans are 70% good to excellent across the US. Wisconsin and Iowa are over 80% good to excellent. Again, Illinois and Indiana beans are not fairing as well.
Wheat has been mixed today but July wheat is currently up 5. Harvest is starting back up after couple days off for rain. Yields are looking better than expected with a late frost which has been knocking the wheat down the last 3 weeks in a row.
With markets down it is a good time to remember to lock in profitable levels when there are small rallies in the market. The Grain Marketing Specialists have been locking in grain all the way out to 2021 to hopefully manage risk on future bushels. Please call one of us for help on any grain marketing questions.
Have a good day!