September 25,  2019

Disappointing early yield reports have failed to stimulate the Futures market.

Until the USDA confirms lower yield, the market isn't believing

Most adivsors have substancial percetages of 2019 crop sold and have

started advising 2020 crop sales.  This could prove prudent if the reports

of large increase in corn planting acres is realized.

October 10   2019

USDA      Production           yield                  Harveted acres       carryout

Corn          13.779             168.4                      81.800               1.929

Soybeans     3.550              46.9                       75.600                0.46 

This tells me the chance for any big rally based on 2019 production is GONE

Let's adjust our thinking

Maybe a per acre approach would be advantageous