11/11/20 Happy Veterens day and thank you to all who have served!
USDA released their November crop report yesterday and needless to say, gave the market a serious jolt as they surprised everyone by reducing the carryout numbers quite a bit more than the traders were anticipating. Corn carryout at roughly 1.77 billion and beans at 190 million bushels. These numbers are a long ways away from the levels we were looking at earlier this summer/fall...lower production estimates and increases in export demand looks to be the major reasons. South American weather will be very crucial to watch over the next few months.
As you get done with harvest, don't forget to get your production reports done. The deadline to turn in a claim is approaching...
Please be careful as you harvest this year's crop.