So what did the USDA reports today do to crop prices? Check out this Barchart.com graphic showing how different commodity classes are doing today:
Grains are WAAAY weaker than other classes today, and meats are stronger. That tells me USDA has definitely hit the market. USDA found generally, but not overwhelmingly, bearish numbers for the big crops, so they’re selling off today.
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But it doesn’t look necessarily like the  news that creates an implosion or collapse, so we can be somewhat thankful that it hasn’t painted a picture of the apocalypse.
Perhaps today’s beating will be a one-day thing, but from the way corn’s looking right now, it may carry on a bit if things don’t get better by the end of the day.
So at this point I feel vindicated in claiming that my nightmare of two nights ago was correct, and that an unpleasant bad patch was coming to the crop markets with the USDA reports. I henceforth return to dreaming . . .
For this image directly above, which is in the public domain, see Wikimedia Commons.
Ditto for that delightful image of The Apocalypse, courtesy of Albrecht Durer, a hero of my youth, who died 400 years ago.
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