Market Analysis
When USDA released its September Crop Production and World Agricultural Supply and Demand Estimates (WASDE), corn and soybean prices saw red.
Summer crop harvest is a few weeks away, and bin space could be a concern to some farmers.
The latest crop progress report from the U.S. Department of Agriculture (USDA), 67 percent of the corn crop was rated good to excellent. Indiana is lagging behind with only 45 percent of its crop in that category.
See all of the report data, coverage and analysis of USDA’s March 31 Prospective Plantings and Grain Stocks reports.
He made no changes to his Argentine crop estimates.
See what percentage of new and old-crop corn and soybeans market advisers have priced. Pro Farmer’s Brian Grete explains the situation.
Corn dropped for the second time in three days and soybeans declined as more rain is forecast for U.S. fields next week, boosting crop prospects.
Corn inventories in the U.S. will gain more than the government forecast last month as lower feed use and exports offset a smaller harvest of the rain-drenched crop.
Corn planted acreage topped expectations, while corn stocks fell short.