The August crop report released at noon today. Most attention on the corn trade.
Corn has struggled since reaching highs in mid-July over the 490 level with extended hot, dry weather. Weather since then has been favorable and private estimates that are released keep the national average yield at or near USDA’s 183. In fact, StoneX just last week surprised some by putting the national average yield 184.8 and a crop over 16 billion bushels.
Elsewhere in the trade, French officials placed the corn crop there at a 50-year low at just 7 million tons. Ukraine says grain storage at major ports could be full by early November due to slow exports and, of course, no ships to load. This is the Bottom-Line report.
September crop report, already important. It comes on Friday the 11th.
Audio Reporting by Mark Oppold for Southeast AgNet.