The 2019 Crop Year has been a year of unprecedented events, but the one major factor that trumps all (in the dictionary definition of the word), is the weather. The USDA cut the yield forecast for this year's corn crop production by 10 bushels per acre, and of the 15.5 million acres not yet planted in June, we will certainly see how many of those acres were actually planted.
However, again, this is a year of unprecedented events, and with crops at their lowest rating in 25 years, this month's USDA Crop Product and WASDE reports could certainly result in a bullish, rather than bearish, market effect.
The above information is credit to the following article by Tyne Morgan, a US Farm Report host, published by AgWeb on July 10, 2019. This article can be read via the following link:
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