Grain Exchange – 9/29/2020
Harvest pressure leads to weak grain markets today. Corn harvest is at 15%, Soybean harvest at 20% and winter wheat seeding is 35% complete.
Corn prices are lower this morning on harvest pace. Quarterly stocks report is out tomorrow. Only 75% of corn across the country is mature which is 10% ahead of the five-year average. There is still a large amount of late planted acreage that needs more dry down time. Corn exports continue to stay strong; 2020/21 corn exports are 79% higher that the same time a year ago.
Soybean harvest has started at all our locations. So far, a good start to the harvest season as beans are coming across the scale with good moistures. The dry late summer is supporting a fast harvest pace. As of Sunday, 20% of U.S. soybeans had been harvested which is 5% higher than the five-year average. Exports remain strong as China continues to buy. Loading paces support the 2020/21 target as year to date shipments are 53.7% higher than last year.
Wheat prices are following corn and beans lower this morning. Dry weather is a concern, but farmers continue to plant in dry soil conditions. Current planting pace is 2% higher than the five-year average. Wheat exports remain 8% higher than a year ago.
Let us help bring your crop in. We offer trucking at all our locations.
The market has had some pretty good swings, offers are a good way to catch the prices as they moved higher. Reach out to your Grain Market Specialist, we are here to help with all your marketing needs.
Harvest time can be a very hectic time of year. Please take the time to stay safe.
Happy Harvest Season! Have a great day.