Grain Exchange – Good Harvesting Weather
Finally, some good weather to get some harvest done! Markets are reacting with news out of South China Morning Post, Chinese officials indicate they will “increase their purchases of US Farm products based on demand.” Chatter has not indicated which commodities and how much and timing of delivery. Markets will be chopping with any change in weather or news from China. Weather maps in South America show rain coming for Brazilian areas.
USDA stated yesterday it will re-survey corn and bean harvested acres in Minnesota and North Dakota and will publish any changes in November 8th crop report. Harvest is slow going on corn while most producers focus on getting soybeans harvested.
Britain and the EU has agreed on a draft Brexit deal. The next step is getting U.K. Parliament to pass the final deal.
Informa estimates US spring 2020 acres at 95.3 million corn acres (up 5.1 million) and 85.3 million bean acres (up 8.8 million acres).
Make sure to have offers in and working as we see the spikes in the markets. Also make sure to start putting sales on for Spring/Summer 2020 and into Fall 2020. Thank you for your continued business.