Weaker markets today with extended forecasts calling for a break in temperatures mid to late this week and the possibility of scattered rain across the belt. The extreme heat we have seen that past couple of weeks has been detrimental to soybean production but on a positive note corn maturity was advanced. US corn dented is now at 64% up 22% from last week and shy of the average of 75%. We are still behind pace with only 9% of the corn crop mature vs 28% on average. Crop condition ratings down 2% to 54% (35% for Iowa).
11% of the soybean crop is dropping leaves this week vs 19% on average. Only 2% of Iowa soybeans are dropping leaves this week. Condition ratings down 2% for the US and down 6% for Iowa.
Opening calls lower with condition ratings dropping less than market expectations.
Together we can!
Kyle Lehman
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