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North Central Illinois | You have a point. This is about the fifth year running now that the crop has been talked down all summer long. The previous four years we miraculously raised a much bigger crop than predicted on NAT. Will this be the fifth? I don't know but I wouldn't totally discount the idea. It just seems like things are a little more precarious this year with the crop going in a little late in many areas and the scorching the boys out in Nebraska and Iowa took earlier in the summer. An early frost is a legitimate concern in many areas this fall. The forecast out two weeks has the central US with much below normal temps. All day yesterday and this morning felt very strange. It actually felt a lot like fall. I'm not throwing up the panic flag but it is definitely something to keep an eye on. Honestly, I think it will take something like an early frost to rally markets much. For corn I think we are still at 165 to 166 and while that is not super bearish is just isn't that bullish either when it still leaves us with a carryover of 2 billion bushels. They say August is the make or break month for beans and this August has started off a little on the strange side. Still a lot question marks there for the bean crop. The other bad news is the rest of the world has plenty of corn and beans after big SA crops. Throw in some of Trump's magic trade beans and things could get really ugly. Let's hope not. | |
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Every day another REPORT.
