Tuesday September 20, 2022

  • Harvest pressure continues to keep a lid on gains for corn and soybeans after they attempted a move higher on the overnights 
  • Brazil’s 2022-23 crop planting has begun with first crop corn now 24% planted, they are expecting to see good rainfall over the next 2 weeks to help improve soil moisture as they get into the start of their soybean planting 
  • U.S. Crop Progress Report
    • Corn harvest now 7% completed
    • Soybean harvest initial report came in at 3% 
  • Chinese purchasers of soybeans had been taken advantage of Argentina’s “pesos for dollars” program which encouraged Argentine farmers to dump soybeans onto the market giving global buyers a cheap buying opportunity 
  • Wheat continues to yo-yo on a whim, picking up nearly all the losses incurred yesterday without any strong story as to why