10/09/20 60 days ago the USDA was projecting corn carryout above 3 billion bushels and beans above 650 million. it was very difficult to get overly excited about the markets. With the derecho damage in Iowa, China coming to the table, surprise on the Sep 30 quarterly stocks report...the USDA today showed ending stocks on corn at 2.1 billion bushels and beans all the way down to 290 million bushels.
As you get done with harvest, don't forget to get your production reports done. the harvest price is calculated by the average of the Dec futures (for corn) and Nov futures (for beans) during the month of October. the fall prices are higher than the spring guaratee which means it will change the bushels requirement that you have to have to receive an indemnity. Please call Nathan at Glasgow if you have any question.
Please be careful as you harvest this year's crop.