Pro Farmer Tour continues to find less than expected yields

The Pro Farmer Crop Tour got into the 2 I-States that are supposed to prop up the corn and soybean yield estimates this year but the findings in IL and W IA have most questioning the current USDA levels. Illinois was 5.5 bushels off last year but still above the 3 year average and the same with the soybean numbers. W Iowa got worse from North to South. NW Iowa corn is off 2.8 bushels up to 18.5 bushels in SW IA. The soybeans measured better than corn with all districts above the 3 year average. We realize Iowa and Illinois had monster years last year but the USDA is only 1.5 bushels per acre under last year’s national record. We have E IA and Minnesota today and they should be solid to great and we get the final results Friday morning. The 2 questions we have are these issues prices in right now and how fund managers react to the news. Our thoughts our if we see good news from today’s scouting we could see a pullback going into the weekend. For today we will watch 6.50 & 14.30 for 1st support and 6.77 & 14.85 for 1st resistance. Export sales report has been delayed this morning. NFC Grain Comments Options -8.25.22 (3)

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