Export sales for beans were huge last week:
Soybeans 10 year charts below.
Low for SX last month was 812.25 but we've bounced back! Current price is $872, 60c off the lows but $1.88 off the $10.60 highs at the end of May. Did we make an early season low?
Harvest pressure and negative seasonals have been offset by wet weather in the forecast for the past week. A pattern change to drier weather will kick in at mid week. Tariff news is an extreme wild card.
Soybeans: Wider perspective: Currently still close to 10 year lows !!!!!
Charts November contract.
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, we are still just below the 10 year lows!
Corn 10 year charts
CZ made new lows on September 18th at 342.5 but has bounced back to 368.5. Now 26c off the lows but 60c off the late May highs. Wet weather is slowing down the harvest in the WCB and helped provide price support the last week. More rain early this week........then it dries out.
Lows are likely in.
Corn historical perspective:
Who remembers $8 corn not so long(5 years) ago
3 month below December contract
1 year below
5 year below