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Gary's Blog 08/24/26 1:02:37 PM
8-10-26 Crop ratings G/E %
TW LW OH
Corn 61 61 62
Beans 62 63 59
8-24-26
The bullishness of the Profarmer tour has carried over into today with corn making new 3-year highs. The ultra-low yield number (173.2) was a surprise to many and has traders wanting to get long the market. Funds were already net long 250k corn as of Tuesday, so real time estimates are now in the low 300’s. The all time high was just under 450k back in the 2012 drought. PF has a history of being under the USDA but usually not by such a wide margin. Many are using a 175-177 type number today which would seem logical and where we might ultimately end up. On the other hand, soybeans are bearish with August rains pumping up yield potential. Traders have been willing sellers of the soy complex today. Wheat has been caught in the middle.
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