Crop Tour: Corn and Bean Yields Above USDA August Report Numbers [Listen]

Gordy with Chiodo Commodities said early last week the Crop Tour would project a corn and bean yield above the USDA August Report. That is exactly what happened when the crop tour results were released at 1:30 Friday afternoon. This was evident when the Crop Tour began Monday and found very good corn yields in South Dakota which has been in a severe to extreme drought all season.

We knew there was a good crop in the Eastern corn belt and the tour found even bigger yields and pod counts in Ohio, Illinois and Indiana. So, corn and beans struggled all week and then really got hit Thursday and Friday closing down double digits. Everything looks quite negative on the charts too so where do we go from here?

attachment-GORDY RECAP 8-20

Scouts on the tour did comment about the drought conditions and even areas in the Eastern corn belt need rain to maintain yield potential not to mention the Western corn belt that has had drought conditions all season long. Click on the link and listen to Gordy discuss the grain and livestock market action last week.