Worst corn ratings since 1992 for this week of June

Corn and soybeans keep rallying after lower than expected crop ratings yesterday afternoon. The market was looking for decreases of 3% in corn and 2% in soybeans but saw a 6% drop in corn and 5% in soybeans. Two of the biggest losers were Iowa and Illinois, both dropping double digits from last week in both corn and soybean ratings. That puts a little more emphasis on these rating with those 2 monster producers struggling so much. The corn rating for this week was the lowest for corn since 1992 and before that 1988. In 1992, weather turned and bushels were ample in 1988 drought extended and it was a wreck of a growing season. Our markets will focus on the rain forecast for this weekend as temperatures peak at that same time. For today, we will use 6.02 & 13.35 for support and 6.22 & 13.63 as resistance NFC Grain Comments Options -6.21.23 (1)

Sign up for text alerts from NFC! Enter your mobile number to join: