Grain Crops Behind In Development

Despite the bearish charts, more data from the USDA suggests possible downward revisions to crop forecasts in the future. This report today:

According to USDA meteorologist Brad Rippey the latest crop condition report released Monday shows crops running significantly behind the normal development pace in the Midwest and across the Plains. Southwestern Nebraska farmer Kurt Bernhardt agrees with USDA's assessment.

"That is way behind the five-year average of 44%," says Rippey. "In five states we see less than 10% of the corn mature at this point in mid-September."

Corn, wheat, and soybeans appear to be subject to the turmoil in the financial markets today, with erratic trading being the standard for today. Once some order comes back to the market, perhaps a pattern will develop. I'm watching the grains, but haven't seen good reason to trade today.