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South Central Iowa | The last few days of rain has been enough to aliviate concerns. Kansas, Mid-Missouri, and Southern Illinois on deck for tonight/tomorrow and Southern Minnesota, SE S. Dakota, and Northern Iowa for next week. 8-14 showing better moisture. Right or wrong, the trade thinks yield is not endangered.
They were thinking 165-170 last week and now most are likely leaning towards upper 160's or better. That just doesn't shrink our carryout. We will still be over 2 billion with current usage and the 83.5 harvested acres.
We handled the report fine yesterday. But the model turned wetter and the euro is showing it too. So we crashed. If we trend wetter into August, the yield will be fine. I still don't think we hit the trend, but it will be hard to scare the market.
I think downside will be contained in the $3.30's as of right now.
Here's the rain map since we began crashing. It is more than thought in the west.
Edited by Conan the Farmer 7/13/2017 11:07
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