Soybeans are leading the way higher this morning as they try to maintain last week’s upward trend. Currently trading 10 higher this market is looking for life that may not be around long. President trump commented on Saturday that the Chinese President may not be ready to make a deal when the two leaders meet at the G20 meeting in Argentina.
Corn is trading 2 higher to start the week. A weaker dollar is helping support the export markets and offering hope that we will see improves sales in Q4 for corn.
Weather across the corn-belt looks to be dry for this week and beyond while temperatures remain below average.
Producers should take advantage of the recent rally by making sales for December and January to core out bins with prices in the $3.50-3.60 range. Producers should also be making basis sales for March thru July at current levels. The later start to harvest is going to make this year’s new crop stretch further into the spring and summer months. This along with the large size of this crop will result in wider basis levels across the country.
Producers looking to move corn this fall should be making cash or basis sales to guarantee you have a spot to take your grain. With a smaller harvest window, space will be much tighter.
Have a Safe Day!