Wednesday May 20, 2020

  • The ideal planting conditions the U.S. has been facing this spring, historically leads to maximized corn acres 
    • When the initial acreage forecast was released at the end of March it was much the opinion of the trade that acres would swing from corn to beans but after a smooth planting campaign so far it is becoming less likely we will see this acreage switch 
  • Soybeans continue to carry the most optimistic outlook as Chinese buying continues, crush levels remain high and it appears as though they will not pick up acres from corn 
  • Lake Huron is on track to break record high water level that was previously set in 1986
  • U.S. reveals their farmers aid package yesterday, they will be paying farmers based on either half of their 2019 production or what they had stored on January 15 2020 to