Thursday September 17, 2020

  • Bean harvest has begun with the first wagons crossing the scales Tuesday 
    • Moisture’s so far have been 14.1% or lower with yields ranging from 55-65 bu/ac – a strong start to harvest 2020 
  • U.S. weekly export sales were strong but within expectations 
  • Beans jumped higher midday yesterday and are attempting to hold their gains this morning
    • More China sales were the catalyst and with funds able to hop back over the 10.00 futures we are entering a new trading range
    • China or Unknown (suspected China) has purchased American soybeans and/or corn 29 out of the last 33 days 
  • Corn has now moved 50 cents in about a months time with beans up $1.50 since the August USDA report – soybean funds are approaching record soybean long positions