Your Pro Farmer newsletter (September 17, 2022) is now available

The September crop estimates came in lower than expected for both corn and soybeans as USDA cut yields and harvested acreage. That cut 2022-23 ending stocks more than anticipated and lowered them the “pipeline” levels. The extended forecast from the National Weather Service suggests harvest and fall fieldwork should progress relatively uninterrupted, but the hot and dry conditions would be a concern for the HRW wheat crop that’s being planted into dry soils. We take a longer-term look at corn and soybean price action and the close similarities between 2010-2014 and 2020 to date – and what that could mean for prices into 2023-24. On the economic front, last week’s hotter-than-expected U.S. consumer inflation data all but seals up at least a 75-basis-point increase to interest rates this week and suggests the Fed’s battle against rising prices could last longer than expected. We cover all of these items and much more in this week’s newsletter, which you can download here.