FarmPolicy

September 22, 2018

Ag Economy; Policy Issues; Biotech; Regs; and, Immigration

Agricultural Economy

Jesse Newman reported in today’s Wall Street Journal that, “Two visitors on an annual Midwest crop tour here [McLean County, Il] this week quickly found themselves enveloped by 10-foot-high stalks of corn, an up-close view of what some think could be an even-larger U.S. crop than the record harvest projected by federal forecasters.”

The article noted that, “So far, estimates of corn yields from states on the closely watched Pro Farmer tour mostly have exceeded U.S. Agriculture Department estimates [graph], adding further pressure to corn prices that have dropped 15% this year and are trading near four-year lows [graph]. Tour findings also indicate that much of the nation’s soybean crop, also expected to reach a record this year, is in good health as it undergoes its main growth stage.

Corn futures for September delivery, the front-month contract, fell three cents, or 0.8%, to $3.595 a bushel Wednesday on the Chicago Board of Trade. Prices are off 1.7% so far this week.”

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