Tuesday October 19, 2021

  • Markets turned around yesterday and are continuing into the green today with soybeans leading the charge this morning
  • China is in the market for U.S. soybeans which is adding support to the bean markets today 
    • After a slow September the export pace is picking up nicely, with over an 84 million bu increase in inspections in week on week reports 
  • U.S. Crop Progress 
    • Corn harvest 52% completed – ahead of average pace of 41% complete
    • Soybean harvest 60% completed – also ahead of average pace of 55%
    • Winter wheat planting only 1% below average pace at 70% completed 
  • Brazil seeing near ideal weather for the planting of soys and first crop corn while Argentina is struggling with dryness