FORT COLLINS, Colo. Virtually no one in the agriculture market was prepared to see such a high U.S. corn yield from the U.S. government on Monday. This, coupled with a larger-than-expected planted area, sent Chicago corn futures on their steepest two-day fall in more than six years.
CHICAGO For the second time in less than two months, overly aggressive market expectations for the U.S. corn crop tanked Chicago corn futures on Monday when the U.S. Department of Agriculture published its latest round of reports.
CHICAGO U.S. Crop Watch producers’ corn and soybean expectations were mostly unchanged on the week, though soybean potential may be better than previously expected in the northernmost states. Almost every location needed rain a week ago and many have observed some moisture over the last several days, though places like Nebraska, Kansas, and now North Dakota need precipitation to maintain crop potential.
CHICAGO Speculators were sellers of all Chicago-traded grains and oilseeds early last week, but commodity funds are still carrying a decent-sized long position in corn ahead of Monday’s data dump from the U.S. government.
CHICAGO Monday is going to bring much-needed clarity to the agriculture market with fresh U.S. government data on the U.S. corn and soybean crops after an extremely volatile start to the season.
FORT COLLINS, Colo. U.S. corn shipments fell to a 19-month low in June, and they were unlikely to have done much better in July as elevated prices and foreign competition continued to suppress export business for the world’s top corn supplier.
FORT COLLINS, Colo. The U.S. corn crop may have gotten its latest-ever start this spring, but speculators’ bullish bets have lost steam in recent weeks as the weather has not been outwardly threatening for crop development.
FORT COLLINS, Colo. In a normal year, about three-quarters of U.S. corn would be reaching maturity exactly two months from now. But given that an unprecedented portion of the 2019 crop was planted very late due to heavy spring rains, this and a cool August forecast could prevent some corn from crossing the finish line.
FORT COLLINS, Colo. Last week’s seasonably mild temperatures for the U.S. Crop Watch corn and soybean fields were favorable given the drier conditions. But more than half of the producers report that their crops need rain now, and the near-term forecasts are not necessarily generous with the moisture.
WAILEA, Hawaii Conditions in the Crop Watch corn and soybean fields remained stable last week, even with a mini heat wave in the latter half. Delayed progress caused producers to become slightly more hesitant on yield potential, but the upcoming week of milder temperatures appears to be exactly what the crops need.