Corn: September corn futures have traded $0.08 lower so far this week. The decline in corn futures can be attributed to a lack of a weather scare for the Midwest. Key growing states like Iowa and Illinois continue to receive extended weather forecasts with normal temperatures and normal precipitation. The USDA released the latest crop progress report on Monday. This report indicated that 97% of the corn crop is silking while 61% of the crop has reached the dough stage. The USDA rated 62% of the corn crop as being good-to-excellent, which is a 2% increase from last week’s report. Continue reading →

Corn: Since the first of July, September corn futures have declined by $0.10. The decline can be attributed to a partial loss of the weather premium that was built into the corn market. During this time of year, the corn market is volatile due to it being a weather market. On Monday, the USDA reported that 67% of the crop is already silking with 64% of the crop being rated as good-to-excellent. Now, these ratings are lower than what we had during this same time frame last year. In 2016, the USDA rated 74% of the crop as being good-to-excellent. So far, these ratings are pointing to a good national yield. Continue reading →

Corn: Over the last 30 days, September corn futures have increased by $0.11. The increase can be attributed to the reduction in corn acres for 2017. The low prices of corn futures caused many farmers to increase their bean acres at the expense of corn acres. As a result, corn futures are showing signs of potentially creeping higher through the growing season. Of course, this all hinges upon the growing conditions of the crop. However, the stage has been set for a chance at higher corn prices.

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Corn: Since the March 31^st planting intentions report, September corn futures have increased by $0.05. However, there has been quite a bit of movement in the futures market after that report was released. The USDA indicated in that report that there would a reduction in corn acreage compared to last year’s levels. The report stated that we would plant 90 million acres of corn in 2017. While that was expected, it does create the potential for higher corn prices if we have a supply disruption in 2017, such as dry growing conditions in the Corn Belt. Continue reading →

Corn: Since the market’s open on Monday morning, September corn futures have declined by approximately $0.11. This decline in prices may cause some producers to make some last minute changes to their planting intentions. With the planting intention report due out on March 31^st, we will begin to see the market try to buy more acreage. This decline in prices is somewhat puzzling due to better export sales, acceptable demand from ethanol plants, and the expectation of lower acres in 2017. Continue reading →