Traders had the weekend to digest the Pro Farmer crop tour. Commodity Risk Management Group market analyst Matt Tranel thinks Pro Farmer’s corn yield is far enough below USDA to cause some concern. “Ultimately, we’re looking at a crop in the 14.82 billion bushel range, according to Pro Farmer. That’s off from what the USDA is currently projecting.” Tranel says there is a slightly bigger gap between the USDA yield and the Pro Farmer tour yield than expected. “The funds have gotten out of some positions, but ultimately, they’re still short about 120,000 contracts.”
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