Grain Exchange – 9/22/2020
Harvest has begun in the Midwest! The weather has allowed for a window of opportunity for 2020 fall harvest to kick off. As a company, Landmark saw its first loads of new crop beans on Monday, Sept. 21. We have not heard any local reports of yield for Wisconsin. Reports in Iowa, Minnesota, and Illinois are saying they are seeing lower yields than expected in corn and soybeans. More information will be known by next week as harvest picks up.
Wisconsin corn crop conditions are reported as: 91% dented which is 4 weeks ahead of last year at this time. Forty-nine percent of corn has been reported as mature and is 9 days ahead of the average and 23 days ahead from last year. Much of the state continues to work on corn silage with 62% completion which is 11 days ahead of the average and 28 days ahead of last year. Corn G/E was down a point last week from 78% to 77%.
Wisconsin beans over the last week have become 90% colored 3 weeks ahead of last year and 8 days ahead of the average. Fifty-six percent of soybeans have dropped leaves which is 15 days ahead of last year and 5 days ahead of the average. Beans G/E was unchanged at 79%.
The soybean market has been drawing a lot of attention over the last week and a half with a major up trend in the later part of last week. Monday, Sept. 21, the market made a correction with a 20 cent decrease over the Monday trading period. There was some bounce back in the soybean and corn markets Monday night. Do not let the price change discourage marketing.
Harvest is gearing up and Landmark is ready to help! Feel free to give us a call for grain marketing, fertilizer, and LP & lubricant needs.