Notes updated August 10, 2018 Today's August Crop Report pushed prices dramatically lower with an expected Corn yield of 178.4 bu/ac and Beans at 51.6 bu/ac. These combined to propel carry out numbers for next year to much higher levels than the market was expecting. Corn prices could improve if the crop is 200 mln less than expected but with Bean carryout projected to be 785 million bushels, I suspect it will be difficult to rally.
Moderate to heavy rain continued in the western, north-central, and eastern Midwest Monday afternoon. A round of heavy rain was also featured in the Deep South, while showers broadened in coverage over the northwestern Plains. Temperatures ranged from the mid-50s in central Montana to the mid-90s in southern Texas and northern Louisiana. » More DTN Weather Commentary
