Crop conditions came in lower than analysts expected with corn at 68% good to excellent, and soybeans at 65% good to excellent. Bigger news of the ProFarmer Tour stated above average expectations for South Dakota and parts of Ohio with the first day completed. South Dakota estimated at 178 versus a three year average of 154 bpa. The final yield estimates will be releases at 1:30 on Friday.
Chinese trade negotiations are picking up again today thru Thursday. Nothing solid will come of this, but more ground work is being made. Beyond this, NAFTA continues to negotiate as well.
With crop tours projecting strong yields and great weather forecasts, not much is still standing between having a strong harvest come fall. With that being said we need to really look at options to move remaining old crop corn, whether being cash, basis, or other options. Please call to discuss what can be done.
Have a Great Day!