“Prices were steady to $.02 lower while spreads weakened. Sept-26 and Dec-26 both traded to a 3-month high overnight. Day 1 of the Pro Farmer crop tour estimated SD corn yields will reach only 149 bpa, down from last year’s forecast of 174 bpa. In Ohio, they forecast yields at 180.2 bpa, down from 185.7 last year while pegging Nebraska at 160.7 bpa vs. 179.5 YA. Day 2 results likely out this afternoon. U.S. corn conditions slipped 1% to 60% G/E, in line with expectations. Composite ratings improved in 7 states, declined in 9 while holding steady in 2. Overall ratings fell to a fresh growing season low while slightly below the historical average. 76% of the crop is in the dough stage, 29% is dented while 4% of the crop is mature, all just ahead of the 5-year average. Using updated USDA acreage data my model is suggesting an average U.S. yield of 180.4 bpa with production at 15.983 bil. bu., just below the USDA forecast of 16.013 bil.,” wrote Mark Soderberg with ADM Investor Services.