9/13/2021

Today was quiet as the market continues to digest the USDA report from Friday. We traded slightly lower most of the session with nothing much to talk about. We did have another 132,000 metric ton of beans sold to unknown announced this morning. Early yield reports are starting to trickle in, but it is too early to form a bias. Most of the beans are still a week or two away in our neck of the woods. The later maturity crops should be better than the early maturity this year, as those late rains should have been more beneficial. I am not ready to throw in the towel by those disappointed on the early crops thus far. Basis remains stout on the new crop corn and beans. These are the best numbers I have seen since 2007 when I started merchandising. If you have Hedge to Arrives I would take a look at locking in basis if you need to haul at harvest. If you have room in the bin I would be thinking about rolling them out at this time. Carries are also about as wide as we have seen them. I am not expecting large carries again this year.