8-29-13 AM Comments
Thursday, August 29, 2013, 7:57 amSubmitted by: Jon Setterdahl
Overnight markets a bit lower as forecasts reducing heat and adding rainfall for early next week. This week has been quite the flip-flop affair for prices, almost solely due to weather. This weather spell has undoubtedly hurt yield potential in the western corn belt, but on the other hand….has sped up crop maturity for all. Corn harvest from KY south is happening now with most yield reports very good down there. Something over 1,000 barges of southern new crop corn, mainly from AR and LA, will be making their way NORTH very soon for Midwest corn milling and ethanol plant destinations. Weekly export sales were good for new crop grain, however old crop had net cancellations of business.
Opening calls a little lower, but will watch mid-day forecasts closely.
Have a good day.
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