It was another great week for the corn and soybean markets. We set contract highs again and it felt good even though we dropped a little Friday and did not close on the contract highs. The USDA Quarterly Stocks and Supply Demand Report were bullish. You could even argue they were a 'game changer." The biggest surprise was the USDA cutting the 2020 corn yield by about 3.8 bushel an acre. Then the USDA cut the bean carryover down to the tightest stocks to use ratio in history!

On top of that the weather in South America is still less than ideal and their soybean crop will not be available to the world market for at least another month. I still look at corn and soybean prices on my computer and it is almost unbelievable compared to how low they were last spring and summer. I just keep wondering when will we "crash and burn" or how long will it last? Click on the link above and listen to Gordy discuss the market action this week.