How Will The Market Handle 700 Million Bu. Of Corn Left Unharvested?

December 4, 2018 05:10 PM
 
 

Harvest has been crawling along for months and while some farmers were able to get all of their grain out there’s still a substantial amount in the field. In fact, Mark Gold of Top Third Ag Marketing estimates there are 700 million bushels of corn and another 300 million bushels of soybeans still unharvested. While he says farmers will be able to get the grain out of the field at some point, there will be quality implications to deal with.

“Whether it's [harvested] early spring, or at some other point, there will be damage to the corn. It's not going to be great, but we're not going to lose 700 million bushels of corn, because it's still out in the field,” he explained to Tyne Morgan on AgDay TV. “The beans, on the other hand, you're going to do a lot more damage with the beans than you are with the corn. And if those beans don't come in, and when they do come in, if they're shattered beans, if they're low quality, if they're damaged beans, whatever, that could make an impact.”

According to Gold, the potential losses and delays won’t be realized by the markets for a while. In fact, he says it might not show up in a stocks report until the end of June.

“It's going to be a tough number to get a good handle on and guys will trade the ability of it not to know where we are right now,” he said. “So that'll go back and forth for a while.”

However, Gold expects the next USDA report to show a reduction in yield that’s significant enough to move the market.

“That's why I'm not overly bearish in here, even if we don't have a trade agreement,” he said.

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Comments

 
Spell Check

Dave
Auburn, IN
12/4/2018 07:42 PM
 

  Never say we can't lose alot of these crops still in the fields, I'm sure Mark Gold has never combined corn or beans in April, usually not much left on beans and it's pretty hard to pick ears of corn off of the ground, Mother Nature can make you eat your words

 
 
HARD ROCK
Columbia, MO
12/5/2018 05:44 AM
 

  Mark 200 bu corn turns to 50 if you get that much with quality issues beyond belief 50/55bu. Beans often go to 00/5. If they are snow covered right now and north of Interstate you can bet the yield will be closer to 00 than 5. Mark. I love ya man and have met you many times had many conversations you do your thing and I do mine but WHERE WOULD BEANS AND CORN BE IF YOU TRADER GUYS DIDN'T SELL EVERY 10 CENT RALLY SERIOUSLY ? Try buying into the rally. End users have proven they will use beans at 15.00 ?

 
 

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