We mentioned on this report about a week and a half ago that it would take extended hot dry weather and a bullish Pro Farmer Crop Tour number to push December corn up to and past the 550 level. Now the corn rally is now two weeks old nearly uninterrupted as we begin the first day of September and the highest December corn has been since late July 2023. We do think 555 to 560 will be a tough climb for December.
September futures are now in delivery. 27 percent of corn acres are considered in a drought area. Five-year average is around eight percent.
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Audio Reporting by Mark Oppold for Southeast AgNet.