The Pro Farmer Midwest Crop tour moved the markets yesterday as the first states to be surveyed showed acres not planted and yields far below last year. The issue of late maturity on corn and soybeans still troubles scouts, especially in South Dakota.
Allendale Inc., a Chicago-area brokerage and analysis firm, reported early today that the Pro Farmer Midwest Crop Tour was causing the grain trade to calculate a lower corn and soybean yield than the U.S. Department of Agriculture (USDA) projected in its August numbers. The crop condition report, out yesterday, also added to the smaller crop speculation, as ratings went down in major states in good to excellent categories.
Let?s go to the eastern leg of the tour that finished up in Ohio yesterday. Joel Penhorwood, farm broadcaster with Ohio Ag Net, has this update.
AUDIO: Profit Matters 8-20-19
