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NW Indiana | I think the corn rating is a surprise to the market. Maybe 5-7 higher tonight. Soybeans a slight surprise so probably 6-8 higher. The more important thing then today's report is the eye opening reality that if we dropped those kind of numbers last week on crop ratings that we will likely drop even more this week. So now the trade needs to price in a 3-5% drop for next week. How does that make you feel about a national yield. Forecast holds true you can say the same for the following week. We could be staring at a 55% g/e in corn and 52% in beans 2 weeks from now. That translates into corn in the upper 4's and beans pushing $12 if it really happens imo.
Edit: I just wish sat was over here to flame away at me on these predictions. I paid him a visit on agweb earlier but I can only take so much bearishness during an obvious bull run. Ray Charles could see what is going on right now.....
Edited by IN555 7/10/2017 15:44
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Crop Progress
