I am thinking the same thing tallpine, with the weather clearing up soon.
USDA report out Thursday morning.
Soybeans 10 year charts below.
Low for SX last month was 812.25 but we've bounced back! Current price is $865, 53c off the lows but $1.95 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. This will cause harvest pressure to accelerate and potentially put pressure on prices. Tariff news is an extreme wild card......as well as the USDA report on Thursday.
Soybeans: Wider perspective: Currently still close to 10 year lows !!!!!
Charts November contract.
Soybeans 3 months below......bottom in???
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Soybeans 1 year chart below
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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!
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Good call by tallpine on Tuesday with regards to the beans!
Harvest progress:
34% corn..............faster than average of 26%(corn matured early this year because of timely planting and warm weather pushing growing degree days, so harvesting started early.
32% beans, a bit slower than average of 34%
http://usda.mannlib.cornell.edu/usda/current/CropProg/CropProg-10-09-2018.txt