The one caveat this year presents is that late planting will cause a late start to harvest. Only 34% of soybeans are dropping leaves versus a 59% average and corn maturity is 29% versus a 57% average. Will a delayed harvest cause a delayed seasonal low (right triangulation)? We remain confident that the seasonal low in soybeans occurred in mid-May and the seasonal low in corn will occur during the first week of October.
They say, “the quickest way to the poor house is to trade government numbers”. Some will attest to that statement in recent weeks. Much has been said, and lots of heads are scratching on the monthly WASDE reports (estimates) from the USDA.