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