Rains have been relatively well-spaced in the U.S., allowing for good growing conditions in the U.S corn belt.
G3 Canada weather and crop specialist Bruce Burnett says while there are some dry pockets, overall, projections estimate the U.S. corn and soybean crop could reach record production levels. He says this has put downward pressure on prices.
"Corn and soybeans over the past two to three weeks have been dropping fairly rapidly," Burnett says. "The market has now stabilized a bit, again, as it's trying to find a bottom. A lot will depend on what the USDA says in their report on Friday that will indicate their first ideas of yield potential and production potential on the corn and soybean crop."
Source : Steinbachonline