Good morning,
All commodities are lower to start the day with corn down 9, soybeans down 9 and wheat down 17.
Corn condition ratings rose two points this week to 59% good/ excellent, up from 57% last year but below the 63% five-year average figure; corn progress metrics remained roughly at or ahead of comparables at 96% silked, 65% doughed, and 18% denting.
Soybean ratings jumped five points to 59% g/ex, now up from 58% LY but behind the 61% 5YA; soybean blooming and pod-setting remained ahead of comparables at 94% and 78%, respectively.
Pro Farmer starts their tour of the Midwest next week, just as the hot weather spreads across the US. The markets seem to have some weather fatigue as the longer-term forecast has turned bullish and prices really have not. Prices historically bottom in August and head higher from here, but we need to see some change in demand to move them much higher.
Have a Safe Day!
Garry Gard
920-348-6844
