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Tomorrow’s monthly crop report could be pushed aside by changing weather forecasts. The July report historically can be a non-factor, always squeezed between the quarterly stocks and final acreage numbers that come at the end of June, and the August report that for the first time is based on actual field surveys and not computer models.
That report, by the way, released August the 12th. In addition, of course, the grain trade now squarely fixed on drier weather forecasts. Weekly corn conditions remain the same nationwide as a year ago, but notably declines North Dakota, Colorado, and Ohio.
This is the bottomline report. Numbers to watch going forward, 52-week high for December corn, 5.06 and a half. The 52-week high for November soybeans, 12-14.
Both occurred on the 13th of May.