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Gary's Blog 09/30/26 1:53:45 PM
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9-28-26
Harvest Progress
TW LW
Corn 18% 13%
Beans 17% 12%
9-30-26
Surprise surprise the USDA found an (almost) additional 200 mil bushels of corn in the stocks report today. This was the catalyst to spur funds to liquidate some of their record length as corn finished 21 cents lower. Dec corn now sits at key support level of 5.00. The fed and residual number is where that adjustment was made. This will give the USDA/NASS some cushion now if they need to lower yield in the upcoming reports. Soybeans came up 10mb short (compared to pre-report estimates) but couldn’t overcome the downward momentum and closed 4 cents off. Wheat followed corn and finished 17 cents lower. Traders will have a few hours to digest these new numbers before the night session opens up at 8pm. Please watch the website for updated harvest hours.
9-28-26
When headline news failed to materialize out of the China/US meetings late last week funds went into liquidation mode. The selling accelerated today with soybeans taking the biggest hit, closing 30 cents lower while corn was off 5 cents. The meeting wasn’t a “failure” but just didn’t produce the bullish excitement most had hoped. Harvest is starting to heat up with group 2 beans being cut. Yields have been good, ranging from 65-75bpa. Weather forecasts look good until Thursday night when rains make there way back into the area.
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