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Gary's Blog 10/14/2026 2:10:04 PM
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10-13-26
Harvest Progress
TW AVG
Corn 33% 39%
Beans 46% 50%
10-14-26
Despite a sizable bean sale to China the market still drifted lower into the close. Markets are in “gut slot” mode which usually occurs when harvest peaks at 40-60% complete. Without fresh bullish input the easiest direction is lower when in this environment. That appears to be what’s happening this week as NASS reported national corn harvest 33% complete with soybeans at 46%. We need to see more export sales in both crops to help underpin the market. Yields are also being highly debated with soybeans “better than expected” while corn isn’t meeting pre-harvest expectations. (contrary to what the USDA printed Friday) Key support levels are being tested in the technicals.
10-13-26
Markets are choppy now that we are few days removed from the Oct S&D report. The huge increase in corn yield has been fully digested with MVF seemingly 4.80-4.95 at current demand levels. Soybeans are experiencing heavy harvest pressure as producers race against the rain. We look for harvest progress to be over ½ done in tonight’s numbers. End users should be enjoying this current break to lock in positive margins. |
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