This morning, the November Crop Production report and the World Agricultural Supply and Demand Estimates were released.
Corn production is forecast at 12.9 billion bushels, which is down roughly 100 million from the October Crop Production report.
"That definitely goes against the trend that crops get bigger,” says Gregg Hunt of MF Global.
Jerry Gulke, Strategic Marketing Services Owner and Top Producer columnist, says how the market closes today is something farmers should watch. "Often times how the market closes on a report will be more important than the report itself,” he says. "It will tell you if it has been discounted or if this is what was expected.”
Listen in as Hunt and Gulke provides insight on today's report.