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The Summer Drought Impact

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  • Description

    FBN’s Jeff Flock at the CME on the USDA’s crop report on corn production.

  • Duration 1:37
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So -- did last year's drought play out we'll let's ask Jeff Flock is in the agriculture pits at the CME for us Jeff.

It was pretty wild here today -- as the USDA crop report came out five of the past six years this has been limit move it wasn't quite limit today to take a look at what it was.

Take a look at the intraday chart on corn.

We -- I think Scotch reality about its 46 point moved 26 cent moving.

Once I have we've had a pretty big range in the day as well almost a -- -- of the -- we have an eleven up but.

-- it did move -- it instantaneous or oversaw those numbers.

I know that this crop report is definitely a -- take a look at that they have the guts of this crop report.

This is the USDA world agricultural supply and demand production for corn up 1%.

Over the November forecast but down 13% on the year it was a drought -- bad -- acres harvested down slightly and the stocks weighed down.

-- a farmer sold in this which is good for them right.

Well I'm an -- -- -- next here and that's what this price rises showing us.

We can't have another -- -- like we did last year we're gonna have some really tight supply concerns so we don't get a bureau Abbas in this Trotter have some news of precipitation.

This could be another big year for corn as far as price rise that as far as crop.

And where we had a lot of money come into this market.

When that happened last year a lot of that is going back out Scott was talking about volume volumes have been down in here but I tape we get another drought -- baby.

This could be a place to make some money.

Makes you wonder mother nature -- -- on porn hello I think commodities -- putting he's pissed off what exactly put in it that's great Jeff Flock.

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