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How many bushels will stand in the field through the winter?How many bushels will stand in the field through the winter?

Exports continue to be a disappointment and weather is the major player in South America.

Kevin Van Trump

December 3, 2019

2 Min Read
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Corn bulls are pointing towards a U.S. harvest that continues to face significant delays and leaves a lot of bushels still in the field. The USDA now estimates the U.S. corn harvest is 89% complete vs. the 5-year average of 98% complete. Keep in mind, North Dakota is just 36% harvested vs. 95% on average by this date. Michigan and Wisconsin are both only 66% harvested. South Dakota is just 80% harvested. Illinois, Indiana, Iowa, Minnesota, and Ohio also still have some work to do getting all the acres harvested. From what I understand, the USDA will again be providing harvest updates next Monday... stay tuned! 

On the demand side of the equation, weekly export inspections were a bit of a disappointment. The USDA also reported October corn-for-ethanol use up from September to 436.8 million bushels, but still down just over -5% from last year. October DDG production was also up from the previous month, but overall down by about -6% from last year. 

Bottom-line, demand bears continue to keep the reins on supply-side bulls and the market keeps chopping around. As for South America, there's continued talk that producers in Brazil might be itching to plant more second-crop corn acres, especially if the weather remains mostly cooperative. There are some weather hiccups still brewing in Argentina that we will continue to monitor closely.

Related:Sign-ups open for USDA farm programs


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The opinions of Kevin Van Trump are not necessarily those of Corn and Soybean Digest or Farm Progress.

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About the Author(s)

Kevin Van Trump

Founder, Farmdirection.com

Kevin is a leading expert in Agricultural marketing and analysis, he also produces an award-winning and world-recognized daily industry Ag wire called "The Van Trump Report." With over 20 years of experience trading professionally at the CME, CBOT and KCBOT, Kevin is able to 'connect-the-dots' and simplify the complex moving parts associated with today's markets in a thought provoking yet easy to read format. With thousands of daily readers in over 40 countries, Kevin has become a sought after source for market direction, timing and macro views associated with the agricultural world. Kevin is a top featured guest on many farm radio programs and business news channels here in the United States. He also speaks internationally to hedge fund managers and industry leading agricultural executives about current market conditions and 'black swan' forecasting. Kevin is currently the acting Chairman of Farm Direction, an international organization assembled to bring the finest and most current agricultural thoughts and strategies directly to the world's top producers. The markets have dramatically changed and Kevin is trying to redefine how those in the agricultural world can better manage their risk and better understand the adversity that lies ahead. 

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