Eighteen years ago today, terrorists attacked and took the lives of nearly 3,000 people. Do you remember where and what you were doing?
Solid price strength yesterday on news China will buy more Ag goods in preparation of trade talks next month. Fable of the Shepard boy sitting on a hillside watching the village sheep comes to mind?
Markets taking a pause this morning with CZ19 off $0.01 at $3.60 ½ and SX19 down $0.01 ½ at $8.70 ½. Both on typical overnight volumes.
Dow futures trading 35 points higher this morning and with a higher close would make it six straight. At 26,919 Dow 478 points off its all-time high set July 15th at 27,397.
WASDE monthly Supply / Demand reports and NASS production estimates tomorrow. Will be the first objective yield survey of the year. Average trade guess for corn yield at 167.2 bpa down from USDA 169.5 in Aug.
Ave guess on soybean yield at 47.2 compares to USDA at 48.5 in the Aug report.
Argentine, Brazil and Black sea fob corn values all remain under US values keeping US total corn export estimate in question.
More rain moving through E NE, IA and SE MN this morning. Next three days forecast has some heavy rain for the Dakotas, MN and IA with 2 -3” totals. No frost threat through the 23rd.
CZCN trading 29 ¼ this morning after hitting 30 cents earlier in the week and within $0.03 ¼ of the best trade year to date. Prudent to have some of this level locked up.
Expecting additional short covering to develop this morning…….
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