Grain Exchange – 7/16/2020

Grain exchange update with Kasey Baker

Wheat harvest looks like it will be right around the corner if we can get some dry days. October is in 12 short weeks so hopefully everyone has started taking advantage of the small pops in the market to get harvest grain forward contracted.

Corn is up just a smidge this afternoon. There have been a few corn sales to help drive the market up. One of the things holding corn back is the lack of drought talk now. Most places are getting at least small amounts of rain.

Beans are up 7-8 currently after a sale to China and an unknown destination this morning. Beans seem to be fluctuating several cents at a time both positively and negatively. Crush and oil markets are still within in the average estimated usage which continues to help the market.

Wheat is down 15 cents today but still holding a decent harvest price. Yesterday we were getting close to the $5 cash price in Wisconsin after China released an unexpected purchase of wheat.

Have you missed the rallies or been afraid to take the plunge when you see the markets going up? Utilize Landmark’s open offers. Place an offer above the market with us and it works 24/7. Once the offers are placed, leave them even if you feel the market will go up. If the market goes up, hopefully have more grain to market. Speak with your Grain Marketing Specialist about any questions you my have.

 

Have a safe day!