Corn and soybeans are both slightly higher this morning with corn up 2 and soybeans up 10.
Corn and soybeans have shifted the attention from supply to demand as harvest progresses along. Corn harvest was reported at 52% complete compared to 41% last week. Soybean harvest is 60% complete compared to 49% last week. Wisconsin corn harvest is being reported as 32% complete compared to 24% last week and 18% for the five year average.
The South American forecast is staying very wet. Most of Brazil will see rain in the next week and more scattered showers thereafter. Amounts of 1-3 inches will fall this week. Argentina is dry for the next 10 days but turns to significantly wetter thereafter. Brazil planting is 22% complete. Soybean farmers in the Center-West and Matopiba regions have been reporting that some fertilizer and glyphosate deliveries have been canceled by suppliers.
Have a Safe Day!