From the GrainBoard desk
Our reading of grain and oilseed markets. Every figure comes from GrainBoard; every note is reviewed and signed.
Latest
After two months of falling crop ratings, the USDA lifted the US corn yield to 181.2 bushels an acre, against an average trade estimate of 177.7. The crop is now larger than the USDA's first projection in May, and the question has moved to who buys it.
Euronext's November contract has dropped 46.5 €/t under February, almost all of it in the front month, while canola and soybean curves held. French cash is following it down, into a crush running below its usual pace.
US soybeans are a week behind and Saskatchewan canola two and a half, yet cash markets trade as if the harvest were on time. With bins this full, the delay postpones the selling rather than cancelling it.
