Traders and analysts were anticipating a drop in corn and soybean yields from USDA’s Crop Production reports. They were right, but acres saw an unexpected change, negating the drop in yield. USDA continues to anticipate ear weights will smash last year’s record despite widespread disease, which continues to push crop conditions lower. Producers across the Corn Belt have started harvesting crops with mixed results so far. International demand has begun to draw more of the markets attention as trade issues are branching out farther than just the U.S. and its trade partners. Cattle futures set back and have started to build heavy discounts to the cash market We cover all of these items and much more in this week’s newsletter.
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