Corn is up 2 and soybeans are up 1 to start the week.
Markets look to start the week off steady to slightly higher this morning as we move into the second half of October. Another great weekend for harvesting with estimates pushing 65% of soybeans completed and 50% of corn harvested.
Favorable weather in South America has led to a fast-planting pace. Mato Grosso is reported 45% of soybeans planted vs the five-year average of 25% and compared to 8% last year.
The forecast for US weather is for spotty rains in the Central US and heavy rains out West. The Pacific Northwest has turned to wet and some of that moisture is pushing over the Rockies. The flow of humidity that was coming up from Texas looks to back off this week. Harvest is expected to be over 50% complete for corn and beans, this weather will help push things along. Temps will stay warm enough over the next week, but a little cooler than its been.
Have a safe day!