I am hoping that most of you farmers are too tired tonight to read this blog due to completing a full day's worth of harvest. Unfortunately I suspect that the clouds didn't allow many the opportunity to get much done today on soybeans. Corn closed down $.01 today and soybeans down $.14 in a market that ran out of fund buying today. Crude finished down $.50 and the down dn 50 pts.
Corn has been trickling into the elevator with moisture anywhere from 24-38% and test weight from 48-54. It looks like corn that was fully mature has lost 1-2% in moisture over the last 3-4 days as the weather has gotten back to NORMAL for this time of year. The extended forecast calls for below normal temps and above normal precip so lets hope for the "weathermen are only right 50% of the time".
Soybeans had far and away the biggest harvest day so far yesterday and many have tried again today with mixed results, where is the sun? Soybean basis continues to have a firm tone to it as harvest can't catch up to the current demand. Yields on beans have been at the very least better than they looked - to very good.
Corn yields have also been better than the corn looked but on average 20 bu less than last year. Nationally, I read today that in Hopkinsville KY, 4500 acres have been picked with a running average of 200 bu/ac on ground that has a 5 year avg of 155! Good luck to all of those out there harvesting and remember safety.
Scott Meyer
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