October 18, 2016
Producer Marketing Manager
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CORN: As of 7:45 – Down 2
Harvest progress is pegged at 46% nationwide, 3 points behind the 5 year average. Harvest pace in the eastern corn belt (IL, IN, OH) is running ahead of normal and the western belt (Dakotas, MN, NE, IA) is running behind. Export inspections were a little lower than expectations yesterday, but we are seeing large liftings of YSB…..
SOYBEANS: As of 7:45 – Down 4
Strong day yesterday at fund buying and stronger vegetable oil markets lifted the soy complex. Also had strong export inspections of 92 million bushels, with 32 of that lifted out of the PNW. Soybean harvest is on pace with the 5 year average for this time of year at 62% complete. Notable states behind in progress are NE, IA and KS as moisture has kept them out of the fields. Brazilian planting pace is a little ahead of last year at 17% complete as they start their growing season.
WHEAT: As of 7:45 – Mpls Down 1, KC Down 3
A few snow pics floating around twitter out of Canada where the last 10 – 20% of harvest is left. Winter wheat is 72% planted vs. 73% avg.