Market Trends Commentary – August/September

U.S. and the World

With September in the near distance crops across the United States and Canada continue to tread their way toward harvest. It certainly has been a tumultuous production season with a very wet planting season in the east and a much more normal planting season in the western corn belt. Getting a handle on this crop size has been difficult because of the variability that came out of the spring. This uncertainty became almost institutionalized over the last eight weeks. It was partly perpetuated by published United States Department of Agriculture (USDA) numbers, which came out of the wet spring. On August 12 the USDA weighed in with their latest crop projections. 

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Market Trends Commentary – July/August

Market Trends Commentary – July/August

U.S. and the World

The summer days are upon us and with that the summer heat.  What was one of the most difficult springs in memory for the Eastern Corn Belt is long in the rear view mirror.   However, vestiges of the number of acres left have reverberated within market circles over the last several weeks.  We know that the crop is compromised in the United States, but to what degree?  As of July 14th, USDA estimated that 70% of corn was silking which was 25 percentage points behind the 5 five-year average of 42%.   Clearly, it is been very difficult year for farmers and for those who measure crop progress.

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