Corn and soybean prices fell in part due to expectations that a weekly report due from USDA this afternoon will show about 75% of the nation’s corn crop had been planted as of Sunday, well ahead of the 5 year average for this time of year.
Although excess rain delayed corn planting at the beginning of the spring season, farmers have mad rapid progress in recent weeks, with rain showers over the weekend also benefiting newly planted crops. The crops look great, there are no problems reported so far, and we are pouring water on the three quarters of the corn that got seeded. July corn fell 2/12 cents , or 0.7% , to $3.60 1/2 a bushel.
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