Market update week 34
The market reacted strongly to the results of the first day of the American crop tour. The crop tour in Ohio resulted in a corn output of 183.29 bu/acre. That is only marginally lower than previous year. The USDA assumed 188 bu/acre in their most recent report. South Dakota reached a similar conclusion, yielding 156.51 bu/acre compared to 157.42 bu/acre the previous year. The USDA estimates 162 bu/acre. The crop tour’s yield projections are quite good on its own, but the market anticipates record returns based on the weather and the most recent USDA report.
The market reacted strongly to the results of the first day of the American crop tour. The crop tour in Ohio resulted in a corn output of 183.29 bu/acre. That is only marginally lower than previous year. The USDA assumed 188 bu/acre in their most recent report. South Dakota reached a similar conclusion, yielding 156.51 bu/acre compared to 157.42 bu/acre the previous year. The USDA estimates 162 bu/acre. The crop tour’s yield projections are quite good on its own, but the market anticipates record returns based on the weather and the most recent USDA report.
The decrease in harvest volume that is hurting France this season is also being witnessed in Germany, where the German Cooperative Association is now reporting production of 18.76 Mt, below its projections from last July.
The decrease in harvest volume that is hurting France this season is also being witnessed in Germany, where the German Cooperative Association is now reporting production of 18.76 Mt, below its projections from last July.
A new wave of dry and hot weather has come in Ukraine, accelerating the drying of soybean, corn, and sunflower crops and further reducing yield potential, particularly in the central and eastern regions. Following the unusual heat in the western and northern regions, precipitation reduced stress on the plants, but there were no major rainfalls in the center and southeast of the country, causing the plants to lose their lower leaves and cease development.
A new wave of dry and hot weather has come in Ukraine, accelerating the drying of soybean, corn, and sunflower crops and further reducing yield potential, particularly in the central and eastern regions. Following the unusual heat in the western and northern regions, precipitation reduced stress on the plants, but there were no major rainfalls in the center and southeast of the country, causing the plants to lose their lower leaves and cease development.