Source: Todd Hubbs, DEPT. OF AG AND CONSUMER ECONOMICS, UNIV. OF ILLINOIS URBANA-CHAMPAIGN, 10/17/16


Corn and soybean harvest future prices moved higher after the release of the USDA October World Agricultural Supply and Demand Estimates report on October 12. December corn futures closed the week ending October 14 at a 3 month high of $3.54 per bushel while November soybean futures moved up to close at $9.62 per bushel. Price movements through harvest in the United States can still be impacted by the domestic crop prospects for both corn and soybeans. In particular, yield forecasts for soybeans may be poised for an increase in November. Increasingly, the prospects for major price changes in both markets are linked to South American production outcomes and the ability to export corn and soybeans into foreign markets. Pricing opportunities can occur as South American crop conditions change and export markets respond to importer demand and prices.

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