Aug 28, 2020
Chicago Board of Trade Corn Futures for December delivery traded 12.5 cents higher on the week due to concerns over lower national yield expectations as well as uncertainty over the derecho that hit Iowa on August 10, 2020. CBOT Soybeans for November delivery improved by 42.5 cents on the week due to similar concerns that impacted the Corn market as well as significant “short-covering” by one large trading house during the trading session on Thursday.
While the grain and oilseeds market should have its regular volatility, please be sure to mark down Friday, September 11th, 2020 on the calendar where the market will World Agricultural Supply and Demand Estimates (WASDE) and another United States Department of Agriculture Farm Service Agency crop acreage data release. Please note that the World Agricultural Outlook Board (WAOB) who is responsible for the WASDE will not utilize the FSA data until October’s WASDE release. While we are not expecting anything especially friendly or dynamic from the WASDE report, the FSA release probably has the most potential for surprise.
Have a good weekend!
Grain Team – Aaron, Connor, Dallas, Hank, James, Jenna, Joel, and Kevin