USDA* – Compared with two weeks ago, new crop feed grade corn demand and activity very good, trading 39 cents higher FOB. Forward contracting activity mostly on feed grade corn and soybeans. Feed grade soybean demand and activity good, trading 42 cents higher FOB. Not enough trade activity on all other organic grains to trend.
New crop corn and soybeans are delivering with reports that moisture levels mostly 18‐20 per cent for corn and 15‐16 per cent on the soybeans. Test weights vary but are close to normal. According to FAS GATS, the corn import numbers were about half of what they have been for the months of Aug and September. Soybean and Durum wheat imports remain steady.
The NASS National Crop Progress Report for week ending November, 19, 2017, shows corn harvested 90 per cent; soybeans harvested 96 per cent; sorghum harvested 90 per cent; winter wheat emerged 88 per cent.
To see the full market report courtesy of the USDA, click here.
*All prices listed in US dollars