For the weather affecting harvest and the crops still in the ground, go here:
https://www.marketforum.com/forum/topic/15443/
Dry in the Midwest the next 6 days............turning too wet for TX cotton early next week.
Export sales for corn, beans and cotton were bad this morning. OK for wheat:
Soybeans 10 year charts below.
Low for SX last month was 812.25 but we bounced back off of wet weather damage and the surprise USDA report last week(slight cut in production), then the short covering spike ran out of steam earlier this week! Current price is $867, 55c off the lows but $1.93 off the $10.60 highs at the end of May. Did we make an early season low?
Harvest pressure with dry weather will be accelerating but seasonals have usually bottomed here.
Tariff news is an extreme wild card.
Soybeans: Wider perspective: Currently still close to 10 year lows !!!!!
Charts November contract. Some of the charts below are not right..those after 3 months.
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 bounced back on bad harvest weather and a cut in production on the USDA report last week. Now, the weather is drying out. Currently, the price is around 370. Now 27c off the lows but 58c off the late May highs.
Lows are likely in. Price charts after 3 months below are not updated accurately for this weeks prices.
Corn historical perspective:
Who remembers $8 corn not so long(5 years) ago
3 month below December contract
1 year below
5 year below
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