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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Special Edition – Market Trends – USDA Report June 28th, 2019

Special Edition – Market Trends – USDA Report June 28th, 2019

U.S. and the World

It’s been a very difficult spring across the greater American corn belt. As June grew, older farmers were scrambling across much of the Eastern Corn-belt to get crops into the ground. As of June 19th, 92% of US corn had been planted and 77% of US soybeans. However, there were areas of grey in those numbers. As many farmers chose to switch away from corn and in the US case, put those acres into prevent plant. This was a very unusual year where there is a huge production problem in American fields. As we move ahead, the market will surely be busy coming to grips with a possible supply shortfall in North American fields.

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