Crop Progress: Are Nosotros Headed For Tape Yields?

From AgWeb:

While USDA continues to present corn too soybean weather are impeccable, unopen to farmers say crop weather reports don’t enjoin the sum story.

According to Monday’s USDA Crop Progress Report, 72% of the nation’s corn crop is rated skillful to excellent. Last twelvemonth exclusively 61% of the crop was rated skillful to first-class this same week. Soybeans are doing good too, USDA says. This week’s written report shows 70% of the soybean crop is rated skillful to excellent.

Still, it’s clear past times looking at USDA information that at that topographic point are unopen to work areas across farm country. Corn crops inwards Missouri, Kansas, North Carolina too Texas proceed to scrap from drought too less than 10% of each state’s corn crop is rated excellent. For comparison, Wisconsin’s crop is rated 31% excellent. The province of affairs is similar for soybeans. Soybean crops inwards Kansas, Michigan, Missouri, too North Carolina proceed to struggle.

According to Chip Flory, Farm Journal economist too AgriTalk host, farmers at the Leading Edge conference hosted past times Pro Farmer final calendar week say their corn too soybean crops are either non bad or terrible. There aren’t many reporting average crops.

“When nosotros did the early on aeroplane session, too everybody was talking close their crop conditions, at that topographic point was a whole lot of ‘This is going to endure an 8 to a 10 crop on a i to 10 scale.’ There were the guys that said, ‘This is a 3 to v crop for us’ too at that topographic point wasn't a whole lot inwards the ‘Well this looks similar it's going to endure an average crop correct at five’ category,” Flory said on AgriTalk this week. “It seems similar they've either got a skillful crop or they're actually suffering this year.”...MORE

It does facial expression similar the markets are expecting a lot of corn, here's v years of prices:

FinViz