1. As far as I am concerned we have now officially moved into disaster territory for Trump, Trade, and Soybeans. New crop futures now off a bit under 20% since May 29 high of $10.605 #cliffdiving 
2. Some of the price drop in recent weeks is due to improving yield prospects but I think that has played a small role, particularly since it is still so early in the summer growing season.
3. I think this is another very good indicator of just how badly Trump, Trade, and Tariffs have spooked the grain markets. New crop corn futures down 16% since high of $4.295 on May 24. Yes, a chunk is due to good weather, but my guess is no more than half of decline.
4. Even if you assume a US average corn yield of 180bpa, I think that still lands us under 2 bil bu carryout for 18/19. That alone cannot justify a new crop corn futures price of $3.60.
