Nearby CME grain prices were mixed today. Corn decreased by $0.0700, settling at $4.97/bu. Additionally, soybeans increased $0.1625, closing at $13.86/bu. Soymeal jumped to $428.10/st, increasing by $4.30, while wheat decreased by $0.1350 to $6.52/bu.

Crop Progress August 6

As of August 7th, there has been an improvement in the conditions of the corn crop compared to last week. This improvement can be attributed to milder weather conditions and much needed rain showers. The national averages show a two-point increase on good to excellent conditions. Currently, 14 percent of the crop is reported to be in poor to very poor condition, 29 percent fair, and 57 percent good to excellent condition. In comparison, last year’s crop had condition ratings of 58 percent good to excellent, 26 percent fair, and 16 percent poor to very poor.

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