Posted on September, 12, 2024 at 11:57 pm
“You know here the last few weeks, it's been nothing but kind of sideways to lower. Every rally gets sold. Markets just can't seem to sustain anything. Every night. It seemed like last week we were lower on the overnight. And then we come in during the day session and we just chip away, chip away. Next thing you know, we're higher.”
Bennett says the big question on everyone's mind is whether predictions for large corn crop will lead to a drop in prices.
“I think you've got everything from all time best ever yields on farms in some places in the United States to areas like in Ohio, you know, where they certainly are not going to have a great crop, especially in southern Ohio. That report in August is based on thermal imaging and surveys. Thermal Imaging had looked pretty good with the way the Corn Belt was blessed with rain in the with rain in the month of July. I would think so. Think some of those problem areas will show up a little bit more, you know, as you get closer to harvest and into harvest, Pro Farmer came out at 180 112, bushels lower. I kind of think you're going to end up somewhere in the middle of that, you know, I think maybe again, that high water mark came out in August. We've seen that happen before. People say big crops get bigger, but you know, maybe that's not the case this year.”
Source: AGINFO