While not an agronomist, Agostino strongly recommends fungicide applications, despite low corn prices, to protect yields and reduce nighttime heat stress.
High nighttime temperatures are also raising alarms, with temperatures in major corn states exceeding the optimal range. This may reduce grain fill and increase plant stress, but cooler weather in early August could provide relief.
Grain markets reacted with cattle futures reaching new highs and milk futures hitting new lows after a bearish USDA report. Corn futures may have found a floor at $4.07, and wheat futures remain under pressure despite lowered yield estimates from the North Dakota wheat tour.
US trade news included the US-Japan agreement, and a wheat export deal with Bangladesh, although neither is seen as a game-changer. On the weekend, after the podcast a US-European Union trade deal was announced that was very similarhad similarities to the US-Japan deal.
Meanwhile, Canada’s canola stocks are tightening, potentially lifting prices past resistance levels.
The podcast closed with a reminder from Agostino: “Your ability to think clearly is your most valuable asset.”
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