Tuesday, September 17, 2019

Weakness In Ag Futures With Crop Conditions Better Than Expected

And no frost on the horizon to get traders doing their glute clenches.
Good-to-Excellent still running below last year but no deterioration.
From AgWeb:
Good Morning from Allendale, Inc. with the early morning commentary for September 17, 2019.

Grain markets are lower overnight after USDA's conditions report showed a stable crop. Trade will continue to react to any weather concerns, trade developments and crop condition updates as farmers head into harvest.

USDA weekly crop progress report showed corn condition rating at 55% GTE (54% GTE expected, 55% GTE last week, 68% last year).  Soybean condition rating at 54% GTE (54% GTE expected, 55% GTE last week, 67% last year). Spring wheat harvest at 76% complete (82% expected, 71% last week and 96% last year).  Winter wheat planting at 8% complete (8% expected, 12% last year and 12% 5-year average).

U.S. and Chinese officials are expected to meet this week in Washington before talks between senior trade negotiators are scheduled to begin in early October....
....MUCH MORE
Here's yesterday's Crop Progress Report