Grain Prices Sputtering, Despite Potentially Good Crops This Fall

August 30, 2016 11:17 AM

Wheat futures are sliding, now at their worst level in 10 years, and futures in Chicago for September are falling to nearly $3.70/bushel.  Wheat growers are continuing to struggle.

Spring wheat is now 81 percent harvested, 20 points ahead of the five-year average. The ten-year average is 66 percent.

As for corn, there is no change in condition, with 75 percent still being in the good to excellent category. Roughly 9 percent of the crop is mature, which is two points behind average. 60 percent of the crop is at the dent stage. In the south, several states have started harvesting, but not enough for a national report.

In soybeans, conditions increased a point from last week, now 73 percent of the crop is good to excellent. Leaves are starting to drop in 5 percent of the field with 94 percent setting pods.

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