[Listen] Gordy Ag Market Recap Pro Farmer Midwest Crop Tour
It was quite a week with the Pro Farmer Midwest Crop Tour following up the USDA August Supply Demand Report last week. There were a lot of questions about how extensive the crop damage was from the derecho wind last week the day before the USDA Report. Even with the derecho wind damage most analysts thought the Pro Farmer corn and bean estimates would be not far from the all time record predicated by the last USDA Report.
The Pro Farmer estimates came in well below the last USDA Report. The corn yield was 177.5 bushel an acre which was 4 or 5 bushel an acre below the USDA. The bean estimate was 1 or 2 bushel an acre below the USDA. The numbers were released Friday afternoon after the grain markets closed so we will have to wait until Sunday evening when the markets reopen Sunday evening. I suspect the market will be more focused on how dry it is in the Midwest and the forecast? Click on the link and listen to Gordy discuss the markets.
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