9/30/20 7:45am
There is a very high risk of fires again today with the dry and very windy forecast. Please make sure we are measuring the risks of running our combines today in these conditions. The statement below was released by the Sioux County Sheriff's office last night!!!
Alert: Fire chiefs urge farmers to delay harvest until the dry conditions and wind improve.
USDA Quarterly stocks report 11:00 this morning. Report typically a nonevent but could help set the overall market tone for the next few weeks. Noted previously NASS will have to show 4th qtr. feed usage larger than this past year’s 3rd qtr. to make data fit.
Rains remain light and scattered in the northern corn belt this morning, with conditions dry again for the remainder of the week until more light action in the eastern half of the belt over the weekend; next week into the 6-10 remains dry, with more mixed forecasts now for the 11-15 day. Temperatures will stay cool in the coming days but easily recover to above-normal going forward.
Sources indicate US soybean sales to China may be closer to 30 mmt than 35 mmt this year. Currently US soybean sales to China reported 20 mmt. There are 11 mmt of soybeans sold to unknown as of today as well. If you want to say half that is China, they could be about done with the US program for 20/21.
Next chapter in the 20/21 soybean story South American weather.
NASS stocks data at 11:00 this morning. To make corn data fit we need to see 4th qtr. feed use 80 mln bu over 3rd qtr. History would suggest a revision to feed use is coming.
