Our Mission Statement
Advancing our Legacy by creating value via modern facilities, dedicated employees, superior service and sound marketing.
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Markets were quiet but slightly positive. Corn closed UP 1.5 cents and Soybeans closed UP 3 cents. Markets traded higher most of the day until the close. Markets did some follow-thru buying after the report yesterday. Corn and Soybeans were making new highs. Dec Corn futures gained 13 cents this week. Nov Soybean futures gained 41 cents this week, led by the huge day they had yesterday following the USDA report. Adding support to the markets is positive trade news coming with China announcing tariff delays on U.S. Soybeans and Pork. There is still uncertainity regarding their intentions on no additional tariffs or just no tariffs on certain quantities of goods. Also Trump has signaled he is open to a interim agreement to help with the China trade dispute and push things in the right direction. The 2 sides are going to hold "high-level" rep meetings in Washington in early October.
9/12 USDA WASDE Report Summary: Corn yield lowered by 1.3 BPA to 168.2 BPA. Corn 19/20 production lowered by 102 mil. bu. to 13.799 bln bu. Corn 18/19 and 19/20 End Stocks slightly higher. Soybean yield lowered by 0.6 BPA to 47.9 BPA. Soybean 18/19 End Stocks lowered by 65 mil.bu. to 1005 mil.bu., 19/20 Production lowered slightly to 3.633 bil.bu., 19/20 End Stocks lowered by 115 mil.bu to 540 mil.bu. All numbers were in line with what was expected. Viewed as a neutral report to slightly bullish.