Beans are pretty strong tonight. Went on a little motorcycle ride tonight and was surprised to see some bean fields with leaves turning already.
yes we have some things going on with these beans. We have dry in places, frog eye in some, spider mites in a few. Overall they will be very good. But they are up 12 right now and more bad news for the Trump haters. Looking at exports last week guess who was number 1 in corn, Mexico, you know the ones who would never buy again, and in beans China was number 1, you know the ones who would never buy again, and Mexico was number 2.....wow make America great
Now, now, mcfarm - don't confuse people here with facts.
That's not fair, you know.
(BG)
For the weather that effects growing crops, go here:
Export inspections. Up a bit for beans, down a bit for corn/wheat:
Still think the lows are in for corn but with less confidence now.
CZ around 377.......27c off the lows right now and 51c off the late May highs. Charts below are for the front month Sept.
Corn historical perspective:
Who remembers $8 corn not so long(5 years) ago
3 month below September(front month)
1 year below
5 year below
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I thought the lows were in for bean(and they might be) but that was before the USDA fed the market one of the most bearish crop reports ever. 2019 to have the highest stocks in history?
SX has now bounced back to 897, 62c off the lows(which were 10 year lows), around $1.63 below the late May highs. Charts below are for the front month, Sept. It is conceivable that we can make new lows.
Soybeans: Wider perspective: Currently just above the 10 year lows !!!!!
Soybeans 3 months below......bottom in.
Soybeans 1 year chart below
Soybeans 5 years below
Soybeans10years-Wow, look at that high from the drought of 2012...and demand, Currently, have bounced a bit off of 10 year lows!