Grain News – Growing Concern About the Tar Spot
Markets are lower during Tuesday session as we await the USDA September production, supply and demand reports. Trade is suggesting that the USDA may slightly reduce yields in this month’s report which could give some support to grain markets.
Weekly crop progress numbers were released today, as the USDA had technical difficulties yesterday. Corn crop conditions in the USDA were up 1% in the good/excellent category at 68%. Trade expected the number to decrease by 1%. The soybean crop is at 68% good/excellent this week, up 2% from last week. Trade expected the 65%.
Locally, producers have a growing concern about the Tar Spot complex moving into the area. This causes lesion formation and plant tissue necrosis causing the plant to die prematurely. There is currently no solid way for plant pathologists to determine the impact, but some are saying it could cause a significant yield loss.
Export news this morning showed a sale of 138,000 metric tons of corn sold to South Korea for the 2018/2019 marketing year and the cancellation of 192,000 metric tons of soybeans to unknown destinations.
As we get closer to harvest, please reach out to us here at Landmark with any questions or concerns!
Enjoy the beautiful weather out there!