After a quiet day of trading Wednesday we had more price action today. We started firming up at the end of the overnight session and than the Export Sales Report was released by the USDA. They were big numbers
The USAD announced this morning that China canceled 245,000 MT of old crop beans from the United States. While the Bears have been hyping about China cancelations for a long time this was a minor amount
There was a nice crowd at the Dakota Rice Corn and Soybean Growers Annual Meeting in Northfield at Jesse James Lanes. The Quarterback Club in Northfield served a great meal. There were reports from the Minnesota Corn Growers, Minnesota Soybean growers, the usual reports from the Secretary and Financial reports
The Annual Meeting of the Dakota Rice Corn and Soybean Growers is this evening at the Jesse James Lanes on Highway 3 in Northfield. Social Hour begins at 6:00 pm, meal at 6:45 and then the Annual Meeting
After a big up move in beans Monday they opened a little lower this morning. However they quickly turned higher when the USDA announced a soybean sale of 568,000 MT of old crop beans sold to an unknown destination
I hope to see a lot of farmers at Rice and Steele County Crops Day on Thursday. I will have rolls and coffee starting at 8:30 in the Steele County Community Center on the Steele County Fairgrounds in Owatonna
Beans are quite a bit higher again today. The USDA reported this morning that bean export loadings totaled 1,270,993 MMT. When beans are loaded on a ship it is not likely they will be canceled. So, that is another chunk of beans that will not be canceled
This morning the USDA released the numbers form their annual Outlook Forum. It seems this report is very "bearish" every year with some of the assumptions that the USDA comes up with in terms of production, demand and carryover
Beans are giving back some of their gains of the last few days. The dollar is higher which is a little negative but providing support is no more China cancelations of beans purchased from the United States
Beans are up over 20 cents today in old crop, even new crop November beans are up around eight cents. The dollar is lower today, still too dry in Southern Brazil and Northern Argentina and also very supportive, Gordy mentioned on the air this morning that AgRural cut its Brazil production forecast to 87 MMT, down 1
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