There was a slight bump in the markets Thursday following the release of the USDA October World Agricultural Supply and Demand Estimates (WASDE) report.
Jon Driedger, senior market analyst with FarmLink Marketing Solutions, says the report showed there was a bit of a reduction in the corn yields from last month and a slight improvement in soybean yields.
"To summarize, you might describe it as modestly friendly," he commented.
Driedger gave some insight into harvest conditions in the U.S.
"We've hit a little bit of a lull and in some sense not that different than what we have here in western Canada in the sense that there's been a lot of moisture. They haven't had snow down south, but they've had a lot of heavy rains which has stalled harvest for corn and soybeans, or certainly has kept it at a pretty slow pace."
Driedger says the markets will be watching to see if there is any damage to yields or quality.
Source : Steinbachonline