Weekly Average Price History Week Corn  Soybeans  Wheat SRW Sep. 30, 2018 3.62 8.47 5.17 Sep. 23, 2018 3.49 8.33 5.17 Sep. 16, 2018 3.58 8.36 5.13 Sep. 9, 2018 3.54 8.29 4.92 On Thursday, the International Grains Council (IGC) raised its forecast for world corn production in the 2018-19 season by 10 million tons to 1.074 billion tons, driven by improved crop outlooks in the U.S., the European Union and Ukraine. The IGC reported world soybean production in 2018-19 at 370 million tonnes, up from a previous forecast of 366 million and the prior season’s 339 million. IGC on soybeans: “Brazil and the U.S. are likely to thresh record crops, and with output in Argentina expected to rebound, global production could expand nine percent, year-on-year. The White House is considering imposing restrictions on biofuel credit trading to prevent companies from hoarding

Weekly Average Price History Week Corn  Soybeans  Wheat SRW Sep. 23, 2018 3.49 8.33 5.17 Sep. 16, 2018 3.58 8.36 5.13 Sep. 9, 2018 3.54 8.29 4.92 Sep. 2, 2018 3.44 8.26 5.08 The United States and China imposed fresh tariffs on each other’s goods on Monday as the world’s biggest economies showed no signs of backing down from an increasingly bitter trade dispute that is expected to knock global economic growth. Soon after the new duties went into effect, China accused the U.S. of engaging in “trade bullyism” and said it was intimidating other countries to submit to its will, the official Xinhua news agency said, reiterating China’s willingness to fight if necessary. Chicago soybean futures eased further on Monday as a trade conflict between Washington and Beijing rumbled on, while corn inched down after an export-fueled rally last week as traders awaited a

Weekly Average Price History Week Corn  Soybeans  Wheat SRW Sep. 16, 2018 3.58 8.36 5.13 Sep. 9, 2018 3.54 8.29 4.92 Sep. 2, 2018 3.44 8.26 5.08 Aug. 26, 2018 3.54 8.59 5.26 Re-write the records: the USDA’s September U.S. corn yield increased 2% to 181.3 bushels per acre, exceeding the upper end of trade expectations. State based hikes were widespread and the largest monthly gains were found through the Midwest, where moisture has been mostly in surplus over the last month. U.S. new crop corn stocks came in as 1.77 billion bushels as a result of the exceptional yield. Demand was overshadowed by the extraordinary yield, but the hike in both old and new crop exports should be noted, as well as an increase in industrial demand for the ethanol grind. U.S. soybean yield increased to a record high 52.8 bu/ac, driving production up 2% to 4.69 billion bushels (2.

Weekly Average Price History Week Corn  Soybeans  Wheat SRW Sep. 9, 2018 3.54 8.29 4.92 Sep. 2, 2018 3.44 8.26 5.08 Aug. 26, 2018 3.54 8.59 5.26 Aug. 19, 2018 3.62 8.70 5.42 The bean and corn markets are front and center this week as all eyes are on the September USDA World Supply and Demand (WASDE) report, which is expected to be released on Wednesday, Sept. 12. The September report is the first report where actual sample data is utilized to create an estimate. Bottom line on September crop report: there should be more potential trapdoors than springboards on next Wednesday’s 2018-19 U.S. supply update. USDA may be underestimating 2018-19 U.S. export demand for corn and wheat, while overstating 2018-19 soy demand, but those changes are more likely to be reported in follow up crop reports. Allendale estimated the U.S. corn yield at 177.7 bushels per acre