Declining stocks challenge markets

摘要

This year's pricing opportunities are a sign of things to come. Adverse weather impacts crops in some part of the country each year, but it's been several years since we've had crop stress as widespread and persistent as in 2002. Lower production resulting from this year's weather problems should impact cash grain markets into 2003, and perhaps 2004. Persistent heat and bclow-normal rainfall stressed crops in the Plains and Midwest this year. Both the eastern and western portions of the Corn Belt experienced production problems in 2002, unlike other years when problems developed in just one of these areas.