According to Commodity Risk Management Group president Mike North, a fall frost isn’t a worry for traders yet. “We’re another month away from those type of conversations likely. Are they out there? Yes, but right now, it’s not a threat and it won’t be until closer to September.” Market analysts are still focused on crop progress. “We’re focused on corn silking and moving into the dough stage of production,” he says. “Benign weather is likely not as big of a story as what the balance sheet implications of August 12 will be. Expect quiet, choppy trade until the report.” The expectations for that USDA report are a lower acreage number and a change to yield.
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