Crop markets weighing disease issues, weather

“Pro Farmer pegged national corn yield at 182.7 bu./acre (range 180.9–184.5) on Friday afternoon, well below USDA’s 188.8 bu./acre forecast,” Total Farm Marketing said. “The market is weighing a final outcome between the two, with shrinking crop potential and solid demand underpinning prices.”

“Pro Farmer pegged the national soybean yield at 53.0 bu./acre, slightly below USDA’s 53.6 bu./acre estimate,” Total Farm Marketing said. “Disease issues similar to those seen in corn were noted, which could support prices later if conditions worsen.”

“NOAA’s seasonal outlook for harvest time (Sept/Oct/Nov) is calling for above-normal temperatures and normal rain for most corn and soybean growing areas,” Chad Pater, with CHS Hedging, said.