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: Traders have been consumed with weather during the past few weeks and, rightfully so, as early-planted corn is pollinating under extreme conditions. Last week, the ratings fell 7 points to 56 percent in good-to-excellent condition, the worst seen for this time of the year since 1989. According to Ag Watch’s yield model,[…]
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: If you were expecting a thrill from the supply-demand report, keep looking because none was found. The USDA left 2012-13 ending stocks of corn unchanged at 1.881 BB. Traders were expecting a reduction. USDA is waiting until after the grain stocks and acreage report on June 29th before making any changes to[…]
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[…]
Corn Outlook: Corn values rose 12.6 percent from their lows made earlier this month on the coattails of the surge in wheat. However, since then, the market has turned stone cold, as growing conditions are favorable in most of the Midwest. Meanwhile, there are rumors of China switching old crop corn purchases to new[…]
Corn Outlook: Corn futures have rebounded after shaking off USDA’s bearish report last week. While old crop stocks remain tight, end users are now looking ahead at the potential increase in supplies and early harvest this fall. Planting is progressing at blazing speed and 87 percent complete compared to 56 percent a year ago[…]
Expectations for increased production and an early harvest is pressuring new crop corn while reducing concerns of tight old crop stocks. Planting is progressing swiftly at 71 percent complete compared to 47 percent for the norm. Many of the major producing states are running 40 percent ahead of their average. The first glimpse of USDA’s[…]
Corn Outlook: Racing at the Kentucky Derby may be the best way to illustrate corn planting. A couple of weeks ago, Iowa was 7 percent behind its average but, as of last week, they surged 18 percent ahead while Illinois and Indiana are up 50 percent. Nationwide, planting is 53 percent complete compared to[…]