| Last | Chg | |
| Corn | 338-0 | +1-0 |
| Soybeans | 974-6 | +8-6 |
| Wheat | 405-2 | +2-0 |
Two From Agrimoney, September 16. First up, corn:
PM markets: grain futures rally, on fears of a US washout
...Ear rot reported
Still, as well as delaying the harvest, the rain is raising the risk of disease in the crop.CHS Hedging noted "scattered reports of diplodia [ear rot] in corn"."This is something traders will continue to watch as harvest progresses to see if it is going to be anything more than a localized issue," CHS said."Stalk integrity and ear mould are already concerns and will increase further if rains continue falling in the corn belt," said Mr Cronin....MORE
And wheat:
...'Sprouting, vomitoxin, uneven quality…'
"The quality of wheat in 2016-17 is likely to be much lower than the average of recent years, and last year as well," the USDA said in a report."Intelligence reports about low protein content, low test weights, sprouting, vomitoxin, and uneven quality of the new harvest arrive from many parts of the world."(Vomitoxin is a toxic fungal residue which can, in high enough concentrations, render grain unfit even for use in livestock feed.)The quality decline was viewed in part as a reflection of strong yields, "as wheat yield is negatively correlated with quality" - protein levels, for instance, tend to be lower in times of high productivity.However, the USDA flagged too damage from late-season rainfall, with moisture on ripe crops encouraging sprouting, and quality downgrades, rather than boosting grain-fill....MORE
