PRO FARMER
Producers share real-time, boots-on-the-ground assessments of crop conditions.
Geopolitics, weather and economic uncertainties ring loudly. Look for ways to stay to stay on top.
USDA pegged new crop corn ending stocks at 1.790 billion bu., well below the average pre-report estimate of 1.873 billion bu. World ending stocks for corn, soybeans and wheat also landed below expectations.
Euronext and CBOT corn futures have diverged, though U.S. weather has garnered greater attention since USDA’s June 30 Acreage and Quarterly Stocks reports.
Corn acres landed above the average pre-report estimate, though lighter-than-expected June 1 stocks are supportive. Wheat acreage and stocks were mostly short of average pre-report estimates.