Corn posts its third lowest close of the downtrend. August 30, 2023
August 1 - 27 rainfall, weighted among 12 Midwest states, was 3.2 inches. The average is 3.6. There is four days left of data for the month to report. Yield hits are expected for corn but the question is whether it will be enough to change a clearly in place change in supply narrative. Late August is not historically a major yield determinant for corn. Soybeans are the more interesting question. USDA does not have to address the likely coming hit to exports yet. They can delay that for another two months or so.
Please login to your premium subscription to view this content in its entirety.
Post Archives
Allendale Insider
Allendale Insider
On The Go
-
Soybeans and wheat see pressure this week. Corn holds.
September 22, 2023
-
Cattle on Feed confirms a return to lower placements. Q2 supplies will be tight.
September 22, 2023
-
Pork questions remaining procurement. Cattle hit by weights, beef and the stock market.
September 21, 2023
-
Grains show export sales disappointment.
September 21, 2023
-
Hogs surpass last week’s high.
September 20, 2023
On The Go
September 22, 2023
September 22, 2023
September 21, 2023
September 21, 2023
September 20, 2023
Market Movers
-
December found light support at 474 yesterday/last night, chart open to 467 ¾, rains added again.
September 22, 2023
-
Rains dramatically reduced in the 6 – 10 day forecast, exports may be expected disappointing.
September 21, 2023
-
Rains in the 10-day outlook may slow harvest and offer mild support, exports are needed.
September 20, 2023
-
Harvest at 9%, analysts expected 10%, the forecast may slow harvest days 1 – 5
September 19, 2023
-
Funds were aggressive sellers of 41K, now short 135K or 42% of record, solid harvest forecast.
September 18, 2023
Market Movers
September 22, 2023
September 21, 2023
September 20, 2023
September 19, 2023
September 18, 2023
Snapshots
Snapshots