Good crop conditions continue to pressure prices and limit gains

“Corn, soybean, Chicago and KC wheat futures are trading lower, while MIAX wheat is mixed to start the day,” Ryan Kelbrants, with CHS Hedging, said. “Large U.S. crop prospects and mostly favorable crop progress and conditions continue to pressure prices and limit gains. Look for choppy, volatile trade to continue Tuesday.”

“The ProFarmer Crop Tour has wrapped up in Ohio and in South Dakota,” Total Farm Marketing said. “In Ohio, corn yield was estimated at 185.69 bu./acre, which compared to 196 bu./acre from the WASDE report but is above last year’s 183.29 bu./acre. In South Dakota, yields were seen at 174.18 bu./acre, which was above the USDA guess of 168 bu./acre.”