Good day out in the field yesterday.
Bloomington, Illinois and the weather was beautiful.
Harvest was moving along well except for some bad wind that knocked down some corn last week. Again, I am always amazed at the technology that goes into these hybrids.
On our farm in Northwest Illinois the corn was a bit too wet yet but our beans were 51 bpa compared with 55 average. Not bad.
The feeling I get is that the farmer will sit and store a lot of product this year.
As for the economy, I still would like to stress that we are in some very difficult times. The government shutdown will not help sentiment. Our jobs situation is not improving and housing looks to be slowing again. Where will the growth come from? I keep asking that question in the office everyday.
The 10 year yield is 2.63% and still stuck in that 2.65-2.60 range and stocks are unchanged after yesterday's selloff.
Gold and oil are both little changed at $1320.35 and $103.67 respectively.
Corn is down 1, Wheat up 4 and beans up 5.