Crop ratings fall more than expected. June 20, 2023
There is no change on the weather side. The 1 - 5 day leaves everyone but Nebraska through North Dakota generally dry. The 6 - 10 sees a dry Western Cornbelt and a splash for Illinois/Indiana. The 11 - 15 gives Illinois and Indiana a moderate about. The general story remains net drying. The market is correct in trading current theoretic yield discounts. The big period of direct weather impacts on yields is still ahead in the coming weeks.
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