6/29/2021

Jun 29, 2021


6/29/2021
Two-sided action and mixed at the close in corn and soybeans heading into the big report day.  There was some volatility early in the day session but trading ranges were relatively small from late morning into the finish.  Weekly crop condition ratings were expected to improve after last week's rains but corn in the good/excellent category declined 1 point to 64% (65% last week, 73% last year) and soybeans maintained their 60% good/excellent rating (60% last week, 71% last year).  Spring wheat condition ratings continue to plummet, with only 20% of the crop in the good/excellent category, a 7% decline from last week.  While the really good rains have been spotty, it appears the crop situation in North Dakota may be improving.  The trade estimate of 2.6 million acres increase in corn from the March to June reports would be a record, if realized.  The total of increase of 4 million acres added between both corn and soybeans from the March to June reports would also be a record.  Keep calling in those rain reports from the past few days.  We appreciate every opportunity we get to chat with our customers and growers.   Reminder: Murdock will be unable to receive grain for the remainder of the week starting at 3pm tomorrow, June 30.  Murdock will resume normal receiving hours on Tuesday, July 6.

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