Many Parts of the U.S. Harvest Remain In Play

Continued delayed harvest activity has the attention of investors.

It should come as no surprise to see the U.S. harvest clip along at such a slow pace.

Many farming operations are waiting for crops to dry down naturally. Those operations with drying abilities are also hoping further drydown occurs via Mother Nature.

Here’s this week’s Successful Marketing Newsletter.

Some parts of South America have received much-needed moisture. However, traders and analysts are seriously contemplating lowering production estimates as there are key producing states that remain too dry to expect optimal yield potential.

Every year, I feel it is worth noting market conditions at harvest milestones. The 50% harvested mark is one of those times I try to peg the most important factors.

This year, I feel it is important to point out how basis levels have been strong and have remained strong since harvested started. If the end user was certain the crop was out there, it would make sense to see basis widen once harvest got going. That has not happened this year.

If, or when, basis starts to widen, it would suggest that production in that geographical area is sufficient.

Here’s today’s Successful Marketing Newsletter.

December corn got less than a nickel away from the October 10 low. Will that low be sufficient support if the bulls don’t get headlines soon? Another technical concern is the 20-day average.

Here’s today’s Successful Marketing Newsletter.

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