Crop Progress Reinforcing Lower Grain Price

DES MOINES, Iowa – In Monday’s Crop Progress Report, corn across the country is 76 percent good to excellent. The 2014 U.S. soybean crop is 92 percent in the ground, and of that amount 73 percent is categorized good to excellent.

In Iowa, 83 percent of the corn crop and 79 percent of the soybean crop is rated good to excellent. All of Iowa’s soybeans have been planted.

Market Analyst Jamey Kohake with Paragon Investments says the Monday report has reinforced lower grain prices, coupled with a friendly forecast.

“Very good weather. Nothing threatening at all on the two-week forecast. Crop conditions are very good.” He says, “Just no major heat domes or any major threatening weather out in the forecast, and the trend remains sideways to lower yet.”