Commodity markets had an up and down day today. Early strength in cash soybeans led the way today. Corn finished down 4 cents after being up a modest 1.5 early on. Corn basis remains firm and near normal values, which is pretty good considering the poor quality issues and large carryout for this year.
Soybeans really were the story today as they raced up 16 cents today and took out levels on the futures market not seen since January 19th. Soybean futures rallied enough to spur more cash movement and knocked futures down to finish 9 cents lower. Brazil has been in the news lately for both good yields but also harvest delays do to excessive rain and more rain forecast into the weekend. Argentina is looking for a much needed break from rain and it appears they will be dry through the weekend.
Please remember to regularly check bins on your farm and if any hint of problems arise, please don't hesitate to call for prices for on-farm pick-up.
Scott Meyer
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment