Corn Outlook: Corn futures were hammered this week for a number of reasons. Yields in northern Iowa and Minnesota are running better than expected with harvest progressing briskly at 26 percent complete. More importantly though, anti American sentiment in the Middle East is rising and a dispute between China and Japan over possession of[…]
Corn Outlook: USDA left a few stones unturned in the supply-demand report, mainly harvested acres. They were unchanged at 84.4 million. Because of the drought, abandonment was expected. We must remember the USDA tends to be conservative in their revisions; otherwise, the x’s and o’s do not match. Harvested acres will be updated in[…]
Corn Outlook: Corn futures have been in the doldrums since mid August as we are making a transition from a supply to a demand driven market. There are still lingering questions about production, which will be addressed by the USDA in the crop report on September 12th. Until then, fresh news is lacking. Harvest[…]
Corn Outlook: Weather has run the gauntlet in corn. The recent Pro Farmer crop tour pegging the national corn yield at 120.25 bpa reaffirms the damage caused by the historic drought this summer. However, media coverage of the drought is fading leaving the market with little fresh news on its plate. Harvest is beginning[…]
Corn Outlook: If there is such a thing as the dog days of summer in a weather market, we are in it. The media has covered the drought of 2012 extensively, but it is no longer an everyday story. Crop conditions have plummeted this summer but are stabilizing. With a current rating of 23[…]
Corn Outlook: By now, everyone in the universe is aware of the drought in 2012, as the news media has blitzed it on a daily basis. The fact of the matter is that the damage to the corn crop has been done with the question being yield loss. The crop report on August 10th[…]
Corn Outlook: Dry weather in the Midwest continues as the newsmaker in the grains. Crop conditions in corn plummeted last week falling eight points to 48 percent in good-to-excellent condition, a decline of 15 points during the past two weeks. This is the lowest rating since the drought of 1988. Ohio dropped the most[…]
Corn Outlook: Weather took center stage in the grains this week as temperatures are above normal with limited rainfall forecast in the southern Corn Belt. Weather has been the focal point since early spring and it is rare when you fail to see a crop scare in June. After all, this is the time[…]
Corn Outlook: The corn crop is off to a good start with a rating of 72 percent in good-to-excellent condition, unchanged from last week. Weather is expected to be dry heading into the weekend but, unless Mother Nature changes her mind, a record yield may be in the making. Last week, traders feared that[…]
Corn Outlook: Macroeconomic issues are weighing on corn values even though recent dry conditions have caused the ratings to slip. Currently, 72 percent of the crop is in good-to-excellent condition, down 5 points from the previous week. Illinois and Indiana were down 13 percent and 14 percent respectively. Normally, the market would bounce from[…]