New crop corn conditions are good, and crop could be large -- but weather over next two weeks still critical. New crop soybeans same story, but moreso. We cannot yet call the yields much different from trend, much like the USDA, who made no changes in today's WASDE, except to use the Jun-30 Acreage Report. We must wait for the weather and the USDA's objective yield survey, taken as of Aug-1 conditions, and reported Aug-12. We'll update at the seminar Aug-18/19. Register here.
The analysis above is not intended as a trade recommendation. The analysis and forecasts are based on available public data and on the best judgment of PRX, but cannot be guaranteed to conform to future reality.
