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Tidbits, Soybean Situation, Yield, Export Inspections, Markets & Rain Days Update 7/11/23

From Dave northeast Illinois:

Our area is holding. We will have some tassels this week which is normal; went to dinner at a supper club in Milton Wisconsin last night, that area around Janesville, Wisconsin is some of the best dirt God Created, lots of waist to chest high corn getting ready to tassel, but beans haven't even shaded the row. Lots of beans less than a foot tall, it just seems more bean acres than what I normally see. From I 88 north is looking tough; some have caught a rain but 75% or more is very short.

 

Highlights


The market expected the nation’s corn and bean crops to move 2% into the good or excellent categories. Corn improved 4%, but beans only 1%. Read about every commodity situation in every state at grainstats.com

The market expects the USDA to reduce the bean yield by six-tenths of a bushel on Wednesday’s S&D. If USDA reduces bean yields that much this early in the growing season, they should reduce corn yields by at least 10 bushels. However, the market expects the corn yield to be reduced just 4.9 bushels to 176.6, just four-tenths of bushels less than the all-time US record corn yield of 2017. Is this year’s weather that good?

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