For weather effecting harvest and the crops in the field:
https://www.marketforum.com/forum/topic/15519/
Dry for several more days but turning wet again for late October into early November.
Export sales for corn, beans and cotton were bad Friday morning. OK for wheat:
Soybeans 10 year charts below.
Low for SX last month was 812.25 but we bounced back off of wet weather damage and the surprise USDA report last week(slight cut in production), then the short covering spike ran out of steam earlier this week with much drier harvest weather!
Current price is $862, 50c off the lows but $1.98 off the $10.60 highs at the end of May. Did we make an early season low?
Harvest pressure with dry weather is accelerating but seasonals have usually bottomed here.
Tariff news is an extreme wild card.
Soybeans: Wider perspective: Currently still close to 10 year lows !!!!!
Charts November contract. Charts below after 1 year, don't have the spike higher from the last week.
Soybeans 3 months below......bottom in???
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Soybeans 1 year chart below
Soybeans 5 years below
Soybeans10years-Wow, look at that high from the drought of 2012...and demand, Currently, we are still just below the 10 year lows!
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Corn 10 year charts
CZ made new lows on September 18th at 342.5 but bounced back on bad harvest weather and a cut in production on the USDA report last week. Now, the weather is drying out. Currently, the price is around 369. Now 26c off the lows but 58c off the late May highs.
Lows are likely in. Price charts after 1 year below, don't accurately capture the little spike higher that we had in the last week.
Corn historical perspective:
Who remembers $8 corn not so long(5 years) ago
3 month below December contract
1 year below
5 year below
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