Condition Ratings Come In Weaker Than Expected

The second corn crop rating was out this afternoon. USDA reported a decline from last week's 69% down to 64% today. The trade estimate was 67%. Corn is starting to separate itself from prior good years. In this week they ran 70% - 78%. There was no 2019 report in this week. They started next week at 59%. Over the past 25 years, 24 occurrences, we have three years with this week at a low 63% and two other years at 64%. For those asking 2012 in this week was 72%.

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