Corn traded lower most of the day Tuesday so it was a bit of a moral victory that it rallied back to unchanged. Export loadings were very good again at 57.8 million bushels. The dollar index was sharply lower but that did not really seem to help corn prices unless it kept corn from going lower. It appears corn is waiting for the September USDA Supply Demand Report that will be released next Monday, September 12. It likely did not help corn that Informa and FC Stone estimated the corn yield this year in line with the last USDA estimate at about 175 bushels an acre.

Beans had a pretty good day Tuesday, posting gains of 6-9 cents a bushel. It was likely supportive that beans closed over $9.50 a bushel last Friday. Export loadings were very solid again Tuesday at 45.3 million bushels. Informa and FC Stone's yield estimate was a little above the USDA at 49-50 bushels an acre, and likely kept a lid on any real price rally. Much of the bean belt in the United States has been receiving a lot of rain, raising concerns from farmers about diseases like SDS and White Mold. However, traders are still convinced all the rain is only increasing bean yields!

More From KDHL Radio