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Brownfield Network 08/03/2020 16:13
The USDA’s national crop condition rating for soybeans improved slightly over the past week, while corn held steady. Weather was mixed around the Midwest and Plains as some areas received beneficial rainfall and temperatures generally moderated from the previous week. As of Sunday, 72% of corn is rated good to excellent, unchanged from the week before, with 92% of the crop silking, compared to the five-year average of 87%, and 39% at the dough making stage, compared to 33% on average.
Brownfield Network 07/28/2020 17:13
A commodity broker says some of his farmer clients are taking advantage of the recent gains in the soybean markets. Bryan Doherty with Total Farm Marketing says it is not just the recent four cents per bushel price increase prompting sales. He says many farmers are going to need their on-farm grain storage space much sooner this year. “There is a crop out there, and some of this crop, especially as you get further south due to a relatively-early spring, it doesn’t have many hurdles to get over, in fact the finish line is in sight.” Doherty says even in the northern corn belt, crops will likely be early.
Brownfield Network 07/27/2020 16:25
Soybeans were steady to mostly modestly higher, with November unable to close over $9. Mexico and China bought new crop U.S. beans, the tenth business day in a row with an announced sale. The sale to Mexico was 250,371 tons and the purchase by China was 132,000 tons, bringing the running total to 3,647,671 tons, mostly new crop to unknown destinations and China. That demand from China continues despite the political tensions. Weekly export inspections were bearish, mainly to China and Mexico.
Brownfield Network 07/27/2020 16:16
The USDA says the national good to excellent condition ratings for corn and soybeans improved last week. Parts of the U.S. experienced hotter than normal temperatures, but much of the Midwest and Plains also received much needed rainfall. As of Sunday, 72% of U.S. corn is in good to excellent shape, up 3% on the week, with 82% of the crop silking, compared to the five-year average of 75%, and 22% at the dough making stage, compared to 17% on average.
Brownfield Network 07/23/2020 16:06
Soybeans were higher on commercial and technical buying, with contracts closing at multi-month highs, all at or above $9. China bought 132,000 tons of new crop U.S. beans, the eighth business day in a row with a new sale to either China or unknown destinations, bringing the running total to 3,013,300 tons, mostly new crop. The sales come despite continued political tensions between the U.S. and China. Weekly numbers were neutral with strong new crop sales, but slow old crop numbers and shipments.

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