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Comments - 09/09/10 2:51:31 PM
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Thursday Sept 9, 2010
***Corn surged 8 cents higher while soybeans lost 3 cents on the last day of trading before tomorrow's USDA Supply-Demand report. Early corn yield stories continue to be disappointing which fuels the fear that the crop is just not out there. When the planting season began this year there was plenty of talk that corn carryouts one year from now could be up around 2 billion, now we may be closer to 1 billion.
Condition ratings out Monday night indicated that 69% of the nation's corn crop is rated good to excellent and 64% of the bean crop is good to excellent. This is down 1 point for corn and steady for beans. The corn rating is similar to 2004 when corn had record yields, but early harvest reports continue to be disappointing. |
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