Hi Everyone,
I wanted to share some of the video reports from our US Midwest Crop Scouting Tour.
Bottom line, US producers planted the acres to corn and soybeans that USDA forecasted. The crops do seem to have the potential to reach the projected yields even though a lot of the acres were planted later than normal.
Conclusions: Unfortunately this is very negative and bearish for all of the grain prices. Corn will pull down soybeans, canola and wheat futures prices.
I hope these report help guys manage their marketing.
Moe Agostino, Farms.com Risk Management
I wanted to share some of the video reports from our US Midwest Crop Scouting Tour.
Bottom line, US producers planted the acres to corn and soybeans that USDA forecasted. The crops do seem to have the potential to reach the projected yields even though a lot of the acres were planted later than normal.
Conclusions: Unfortunately this is very negative and bearish for all of the grain prices. Corn will pull down soybeans, canola and wheat futures prices.
I hope these report help guys manage their marketing.
Moe Agostino, Farms.com Risk Management