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Weather woes in key growing regions set to impact WASDE Report

A StoneX managing director says he expects worsening crop conditions to be reflected in this week’s supply and demand report.

Mark Gold tells Brownfield corn estimates could be shaved by up to three bushels per acre.

“In the first report from WASDE, they didn’t show any of the damage that’s out there, and there is damage,” he says.

He says even with reduced yields and good export and ethanol demand, supplies are big.

“Is it enough to really move the needle in terms of a 2.5 billion bushel carry out? Probably not, but we’re taking some of that supply out of it,” he points out.

Gold says soybeans likely have more marketing potential from expected production declines.

“I’ve been in these markets for 52 years, I have never seen the last two weeks in August and the first two weeks of September been as dry as they are South of I-80 in Illinois, Indiana, Kentucky, and Tennessee,” he shares.

He says farmers could see upside potential in prices over the coming months.

Brownfield’s Kellan Heavican interviewed Gold as part of this week’s Husker Harvest Days.