Market Update for July 17, 2017

Bryce Knorr says it's a weather market. (audio)

The market is trading all weather all the time with large supplies left from 2016. Last year, the crop condition was good all last year and the situation is the opposite this year. The Northern Plains continue to be ground zero with the drought with some possible relief headed north of I80 this week, with hot conditions expected to return next week. 

Farmers reporting Feedback from the Field are reporting highly variable conditions, with some fields flooded after heavy rains and others having spotty stands.

Farm Futures has started its survey this week and will announce results Aug. 3, a week prior to USDA. It's the largest private survey in the industry.

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