Markets were softer overnight and appear to be on the defensive as a stronger dollar is taking its toll on the commodities. Concern over rising COVID cases across both the US and Europe are also weighing on prices.
Harvest continues to roll on as weather is dry where the corn is ready and is drying down fast where it isn’t. Locally we have seen producers taking off soybeans and corn in the last few days with moistures coming in very dry for this time of year. With 60’s to 70’s in the forecast for the next two weeks we expect to see harvest start to ramp up pretty quickly.
The 6-10 day forecast for the Midwest continues with dry weather for the week across the region but we could see a front come thru over the weekend and another front early next week. Rainfall amounts will be light and favor the northeast. Temps will be above average over the next 5 days.
Congratulations to producers who took advantage of yesterday’s December offer. Not only are you locking in a good price for new crop corn, but you are being proactive in coring your bins to help maintain quality in the grain you store.
Producers and traders have become very bullish the markets in the last few weeks with the recent rallies that have given life to the market but they need to be cautious and keep history in mind. Remember how quickly things changed back in March when COVID was the headline and taking over all sectors. At anytime this could flare up again and current markets could plummet to the levels we saw in April, May and June! Don’t let the opportunities to sell corn at $3.30-3.70 pass you by!
Have a Safe Day!