The USDA has reported that corn sales for the new crop year (started Sept. 1) are well behind last year, causing grain prices to open down today. U.S. corn sales are 700 million bushels behind the 2008 crop year pace after just three months. The stronger U.S. Dollar is also suppressing prices.
Despite that wheat opened lower also, there is growing concern of damage to the winter wheat crop in the ground. Lack of snow cover and icy temperatures threaten to damage the crop. Snow cover helps to protect the tiny seedlings because it insulates them from the coldest temperatures.
