Monday, August 23, 2010

Week 21

The changes this week are modest this week and show modest recovery from the declines of last week. The uncorrected model was basically flat and the models are largely converging now that we are approaching September. The same behavior can be seen in soybeans where the two models are converging. While the corrected model improves while the uncorrected model declines we see that while conditions are deteriorated the last several weeks, it is less than that seen in a 'normal' year.
Cotton yields and production stabilized after several weeks of decline. The crop still looks like a large one and cotton prices have been strong as world textile demand has risen and crop production issues have occurred outside the US. So for cotton producers it looks like it could be a good year.

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