The reason that I have been suggesting options to market 2020 Beans is that based on Monday's Crop Conditions report, we currently have the 3rd highest rated Bean crop in over 30 years. Crops in the top 3 have produced yields of 108%, 116% and 109% over trend. If realized this would add 330 mln bushels over the USDA's projected 660 mln bushel carryout. China demand will not consume all those bushels. With cooler temps and good August rains, we could potentially see low $7 fall prices.
Light rain Thursday in southeastern Plains and along the south-Atlantic coast. Dry conditions in northern and central areas. Very hot in southwestern areas. » More DTN Weather Commentary
