The USDA report is mostly a non-event in our opinion. Although some numbers differed from analyst estimates, we continue to maintain the belief that weather trumps all USDA data at this point. Sunday afternoon weather forecasts will be extremely important for next week’s trade. A continuation of the current heat/dryness will push the December corn contract to the $7 level in our opinion. Check our blog page on Sunday afternoon for a weather update.
|USDA June 29||Average Estimate||Range||USDA March 31|
|USDA June 1||Average Estimate||Range||USDA March 1|
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