Mid-Day Markets: Corn +2. Soybeans +6. Wheat +1.
 
 
MARKET SUMMARY:
 
·         Markets mixed with corn up 2, soybeans up 6, and wheat up 1
·         Soybeans firmer on rumors of low pod count and delayed plant maturity with risk of frost/freeze
·         Ethanol production averaged 1.023 million barrels per day; down 2.11% vs. LW and down 4.66% vs. LY
·         Ethanol stocks were 23.367 million barrels; down 2.16% vs. LW and up 0.46% vs. LY
·         Corn used for production is estimated @ 101.98 million bu.; lowest since April 2019
·         Corn and soybean yield for NE down vs. last year but near 3-year average;
·         Corn yields estimated at 172.55bpa, down from 179.17 bps in 2018; up vs 167.73bpa 3-year avg.
·         Indiana corn and soybean yield were down vs. last year and 3-year avg.
·         Corn yields were projected at 161.46bpa vs. 182.33bpa last year and 175.66bpa 3-year avg.
·         It is being estimated that Indiana soybean crop is roughly 30-45 days behind normal
·         Midwest to have close to average rainfall over most of the Midwest the next 10 days
·         Temps look to be running average to below average with some upshots of above
 
USDA Says 328,000 Tons of Corn Sold to Mexico in 2019-20
 
Have a great afternoon!!!
 
Chelsey White
Emery Branch Manager/Originator || Topflight Grain Coop
593 Emery Rd.
Maroa, Il 61756
217-794-2240
E-Mail: cwhite@topflightgrain.com
Web: www.topflightgrain.com
 
This material should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by Topflight Grain Cooperative, Inc. Topflight Grain is not responsible for any redistribution of this material by third parties, or any trading decisions taken by persons not intended to view this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. Contact Topflight Grains designated personnel for specific trading advice to meet your trading preferences. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by Topflight Grain Cooperative, Inc.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 










 
 
 







 
 
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