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Comments - 09/08/10 2:56:00 PM
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ALL OF OUR POSTED BIDS ARE SUBJECT TO CHANGE. PLEASE CALL FOR CURRENT BIDS 641- 472-4136 or 800-622-8225
Wednesday Sept 8, 2010
***Grains had a rather quiet day with corn sagging 4 cents lower and soybeans 3 cents lower. All are awaiting the USDA's September Supply-Demand report that will come out Friday morning. The uncertainty of the crop size is fueling speculation that corn carryout 1 year from now will be down around 1 billion bushels. This spring when the planting season started there was plenty of talk that it could be up around 2 billion. The June 30th downward adjustment to corn stocks began the "sea change". Then the growing season challenged the crop with excess moisture and heat and this was followed by a drought in the Black Sea wheat region. Suddenly the world grain outlook looks quite different.
Condition ratings out Monday night indicated that 69% of the nation's corn crop is rated good to excellent and 64% of the bean crop is good to excellent. This is down 1 point for corn and steady for beans. The corn rating is similar to 2004 when corn had record yields, but early harvest reports continue to be disappointing. |
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