Ludlow Coop Elevator Company

9 hours ago

10.07.25 MIDCO AFTERNOON COMMENTS

🌽 Corn Market Update

It was another quiet day as far as headlines go in the corn market on Tuesday, with values drifting lower throughout the session on what was actually an ok day from a volume standpoint. We mentioned it yesterday, but amid there being no October WASDE report later this week, we would assume the uptick in corn harvest progress as producers begin getting wrapped up with their soybeans will be the main talking point for the rest of the week, with there being no export data to chew on Thursday. The market is expecting to again see ethanol numbers tomorrow morning, but otherwise, its yields and exports that look to keep most talking heads occupied until more planting progress is done in the southern hemisphere.

🌱 Soybean Market Update

It was also a quiet day of headlines in the soy complex on Tuesday, which led to spot November futures trading largely the same range for the third straight session. It's a quick shift every season, but as harvest in the US nears and surpasses the 50% mark, attention in the market will almost immediately flip back to South America for the next several months as this becomes the next spot for potential supply disruptions. Otherwise, we're another day closer to the Trump-China meeting at the end of the month that, due to computers, will continue to have an outsized impact on price direction for the next few weeks. ... See MoreSee Less

Ludlow Coop Elevator Company

15 hours ago

10.7.25 MIDCO MORNING COMMENTS

Good morning. Another quiet overnight session with ag prices mixed here this morning. A strange day so far with rain falling from the sky. It is a welcome sight and will slow harvest temporarily. It will bring with it cooler air for a few days, which will also be applauded. The extended forecast is warmer than average, but the averages also cool down as the calendar moves further into October. We had a nice surprise yesterday in that export inspections were released. There was no crop progress yesterday. Analysts expected corn harvest to be 30% done and beans at 38% complete. The crop report on Thursday is still very much in doubt. Brazil exported 7.34 MMT of beans in Sept, up 20% from a year ago. 92% of their bean exports went to China. Corn exports out of Brazil totaled 7.56 MMT, up 18% from a year ago. The Senate did not pass a House spending bill yesterday as the Senate needs 8 democrats to get to the needed 60 votes. Bessent announced last week that the White House would release more information on farmer relief payments today, so we will see if more details come out. It is likely to get some push back with the Government currently closed. China is slowly coming back from its weeklong holiday, with an official return noted for tomorrow. President Trump is expected to host the Canadian PM today. Barge freight continues to trade steady to lower as the pull from the Ohio and northern rivers has not been robust yet. Drafts between St. Louis and Cairo dropped to 9’6”. Rains today will help but not by much. December corn up against the 100-day MA today near $4.23 ½. Soybean futures continue to hang in there with strong resistance today near $10.24 ½. Have a safe day. ... See MoreSee Less