Northeast Crop Condition Update

10/26/18

Weather:

Dry conditions with mild temperatures have led to huge harvest progress in the area. Most lows have just dipped below freezing at night causing delays in the mornings, but breezy evenings have allowed combines to keep rolling will into the early morning hours. Most local farmers are optomistic about finishing harvest before we get too far into November. Soybean harvest will be well over half complete by the end of this weekend and some farmers have already completed theirs for 2018 and have moved on to corn.

Corn		Soybeans
Crop Stage:	45% Harvested	Crop Stage:	35% Harvested
Yield Potential:	Below average in wet areas. Average in areas with less rainfall	Yield Potential:	Average if harvested soon
Current Market:
	Corn	Soybeans
New Crop Bid	$3.16	$7.62
Comments: Corn continues to be the stable market compared to soybeans. Corn harvest prices are 15 to 20 cents higher than a year ago and continue to trade in similar ranges month to month. Local yields have been sporadic, but the high yields reported have weighed on markets. Large soybean acres paired with mostly average to above average soybean yields will continue to weigh on bean prices until a compromise with China comes to fruition. The trade war ending will cause more consistency in the market, but will not provide price highs that we saw four to six years ago. With MFP payments coming as soon as harvested bushels can be verified, most farmers will continue to be able to meet cash flow needs until China comes to the table. – Mason Troendle