Grain Exchange – Mixed Markets
The weather outside is frightful. Looking outside it’s hard to believe it’s Halloween. The markets are mixed on this last day of October. It looks like the 2019 crop is going to be a fight to the bitter end.
Corn is down one and continues to trade in a narrow range. Demand remains slow for corn, both export sales and ethanol. The market could find support on expectations for USDA to lower its US corn yield forecast in it’s November report.
Soybeans are up two. China and the US continue to talk about closing a phase one trade deal by mid-November. If that gets done and demand returns to pre-tariff levels it should be supportive to the soybean price. Export sales were within range of expectations. The November report should give us a better grip on yields and where our carryout will be.
Keep in touch with your grain marketing specialist for all your marketing needs.
This is going to be a trying harvest for all, with weather delays, quality issues, and a shorter window to get the crop in, we will try our best to accommodate your needs. Please be patient, we want everyone to go home safe at the end of the day.