I am watching the USDA Conditions report out at 3 PM today. I expect the initial corn good-to-excellent rating to come out at about 72%, with soybeans at 68%. Winter wheat conditions are likely to move lower again, with about 25% of the winter wheat crop rated good-to-excellent. The poor-to-very-poor rating will likely increase again from last week’s 44%. This is the lowest rating for the winter wheat crop since 1989.
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