Good Morning from Allendale, Inc. with the early morning commentary for September 5, 2019.
Grain Markets were mixed overnight as traders monitor extended weather maps, closely looking for signs of an early cold snap which could impact the late-planted US crop. As recent crop tours and survey's have noted, crop maturity is on everyones mind, and an early frost or freeze could quickly change the landscape.....MUCH MORE
Allendale’s Annual Acreage Survey found US corn yields at 167.71 bushels per acre, and soybean yields at 46.13 bpa. Total production is estimated at 13.755 billion bushels for corn, and 3.499 billion bushels for soybeans. No adjustments were made for early frosts. If you missed the live webinar release of the data, you can still hear the recording and get full survey details, here. Thank you to everyone who participated this year, we appreciate your help!
Argentine farmers, anxious about an increasingly murky political outlook and economic turmoil, are turning towards soy over more expensive corn to cut costs, a shift that could impact next season's harvest in one of the world's top grain exporters. (Reuters)
INTL FCStone raised its estimate corn yields to 168.4 bushels per acre, and also increased soybean yields to 48.3 bpd. They see total production at 13.809 billion bushels for corn, and 3.661 billion for soybeans....
