A Change in the Weather Forecast is Bearish

A change in the forecast on Friday brought a moderation in temperatures and rain to parts of the Cornbelt. AgriSompo North American Chief Analyst Sterling Smith said the corn is in good condition. “The corn crop nationally is very well developed,” said Smith. “In terms of silking, we are sitting in the 60 percent range which is 15 percentage points ahead of normal. That means the corn may be a little less subject to these problems.” August weather will have a bigger influence on the soybean crop.