Crop numbers in yesterday’s U.S. Department of Agriculture monthly production and demand reports were close to trade forecasts. The futures markets had little reaction to the numbers, but corn futures did move lower about an hour later as traders may be focused on the current harvest.
Rain moved through Midwest harvest areas, but forecasts favored drier conditions for Thursday. The latest 6- to 10-day outlook remains wet and warm for the Midwest.
Bob Burgdorfer of Farm Futures reporting. Farm Futures is a sister publication of Feedstuffs.