Good morning,

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!


Garry Gard