Market Update for Oct. 2, 2017

Bryce Knorr discusses the basis on the Illinois River. (audio)

There's selling pressure after corn and soybeans rallied following Friday's Stock's report.

There will be a lot of numbers out this week, yet their impact on the market remains to be seen. Grain Inspections, Soybean and Grain Crush will be out. Jobs numbers are due Friday, they will be difficult to compare because of disruption in Texas and Florida because of Hurricanes Harvey and Irma. The Crush report should give a better idea of what Friday's Grain Stocks numbers mean.

There's an evolving situation with low water in the Illinois River and how it is impacting basis. Barge rates are surging on the river system, which is a workhorse for corn and soybean exports.

Markets in China are closed all week.

Crop Progress reports are out this afternoon. Little change is expected from last week.

Yields are all over the place in Feedback from the Field.


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