By Doug Tenney, Leist Mercantile
Don’t put away the sunscreen protection just yet. Another heat wave with 90 degree temperatures returns the middle of next week across Ohio.
The huge U.S. 2020 acres decline for corn with the June 30 report paints a much different picture compared to last month. Last month USDA had new corn ending stocks at 3.323 billion bushels. Some had expected that number would eventually reach 4 billion bushels. Corn ending stocks for 2020-21 were expected to be cut with the 5 million acres decline from June 30.
Bigger changes for corn had been expected with this report. However, few changes were expected for soybeans and wheat. With the flare-up of the Coronavirus the past two weeks, U.S. export totals for corn, soybeans, and wheat were expected to be reduced. Demand for grains continues to be anemic. However, yesterday’s weekly U.S. grain sales report were surprisingly better than expected.… Continue readingRead More »