Grain Exchange – A Good Week For Harvest
Well, it looks like a great week to get some harvest done or finish. The market continues to look to news to rally with. Harvest remains slow at 89% complete on corn and 96% complete on beans. Planting in South America remains slow and markets are watching weather. South America has a couple of areas that are on the drier side.
Beans still needed to be harvested in Wisconsin (14%) and Michigan (15%). Beans seem to trade both sides of the market with concerns on trade wars and consolidation with funds. October bean crush numbers was a record at 187 million bushels.
Corn harvest is right in line with trade expected. North Dakota still has 64% to harvest while WI has 36%. Corn remains uncompetitive against South America and Black Seas. Please see below for bushels left by states.
Make sure to have offers working for Spring and Fall 2020. We are here to start your marketing plans for Fall 2020 and beyond. Enjoy the sun this week!