Rain and snow are in store for the northern Plains Wednesday, disrupting harvest. Dry conditions elsewhere will favor progress. Temperatures will be chilly north and mild south. » More DTN Weather Commentary
Posted at 5:45AM Wed Oct 23, 2019 CDT
Quote of the Day
"Far better it is to dare mighty things, to win glorious triumphs, even though checked by failure, than to take rank with those poor spirits who neither enjoy nor suffer much, because they live in the gray twilight that knows not victory or defeat."
Next USDA supply and demand report to release November 8th.
Market Comments for October 22, 2019
The ag markets started higher on positive news from the China trade talks but weakened through the day. Rumors were floated that China was in the market for up to 10 MMT of soybeans tariff free from the US. The lack of confirmation or other positive trade news allowed the markets to pull back to unchanged in corn and beans and weaker in wheat. Wheat has rallied and added quite a premium without much news to support it. Outside markets have allowed the US dollar to pull back a bit and let commodities add premium. Harvest is going full bore and yields have been slightly below what the USDA had predicted. Local bean yields have been better than expected. We are just starting to see corn.