Coffee Cup Comments
Follow through higher trade this morning led by strong export inspections report yesterday. Both corn and soybeans had a marketing year high for inspections, a good sign that the gulf is back online. Corn buyers were Mexico, China, and Japan. The soybean business was mostly China. Corn harvest was reported at 52% completed and soybean harvest 60% completed. The eastern corn belt is a little further behind than the western belt due to the recent wet weather. IL was at 62% complete on corn harvest and 51% complete on soybeans. The grain market will be watching the energies, export news and harvest weather for direction today.