Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Crop Report Worse Than Expected and Investors Bearish on Future

Details

  • Description

    FBN's Jeff Flock gets the CME's reaction to corn and soybean prices.

  • Duration 1:51
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Strike at a record breaking temperatures drought conditions hitting the crops heart is well -- friend Jeff was talking about that's right and Jeff Flock is still covering that story for us from the pets at this CMA today hey Jeff.

-- speaking of -- and cherries you know the cheery harvest is going on an upper Michigan.

-- by the -- to but I don't have any information on that today but I do have information on the USDA crop report today I got great.

Wagner with me but GW excited -- Take a look at the numbers.

166.

And acres what we thought we were gonna get on corn we got 146.

Right well then yeah we had -- USDA first passed back in May which is third guesstimate based on a model comes in 166.

Trade expectations are 154.

USDA gets very aggressive cuts forty bushels an acre off born.

How come it's not going -- -- you know look at the soybean market right here behind us that's that's soybean meal and oil options right -- Iraq.

We're doing better than corn today right yeah.

Surprising and I don't know of the computers don't recognize -- -- -- If computers recognizes the economic impact the corn the corn market right now.

From an economic standpoint we you know you discuss sub soil moisture topsoil moisture crop condition ratings on and so what's ahead.

It's bad and it's not going to get better -- -- stabilize that perhaps it had a couple bushels.

The yields which are lower than what the university did you hear what he said.

Worse gonna get worse server I think -- -- -- more a more cleverly and I did that's the corn options that by the with the help popped up it is.

Amazing I mean we are seeing lots of a volume out here as a result of this -- GAAP Jack thank you so much that --

Load More