Both locations closing at 7pm today 

Oct 17, 2024   

Corn, soybean, and wheat were lower most of the day, but all closed 2-5c higher at close

Soybeans were sharply lower on the open and tested the recent lows but have regained much of the losses and are currently only down 4-5.

Private exporters this morning reported more activity to Mexico with 197,180 mt of corn for delivery to Mexico for 2024/25.

They also reported 101,000 mt of corn for delivery to unknown destinations for 2024/25.

62% of corn production area is rated in some degree of drought according to the data released this morning - up from 49% last week.

54% of soybean area is rated in drought - up from 43% last week.

Southeast Ohio - the most impacted area of the corn belt - is suffering from 'exceptional drought' with nearly 10% of the state rated as such.

There is little rain in the short-term forecast for much of the Midwest, continuing the dry streak.

Ethanol production was mostly unchanged on the week at 7.294 mln barrels.