Northeast of Storm Lake

Northeast Crop Condition Update as of 4/16/19

 

 

Corn

Soybeans

Crop Stage:

 n/a

Crop Stage:

 n/a

Yield Potential:

 n/a

Yield Potential:

 n/a
 

Current Market:

 

 Corn Soybeans
Current Prices   $3.40   $8.05
New Crop Bid   $3.39   $8.35

Comments:

Weather and soil conditions have improved over the last 2 weeks. We have had a few warm days, followed by a few well below average. Rainfall last week was generally under ½ inch. We were lucky to miss the snow and heavier rain that fell just north and west in Minnesota and South Dakota.

A limited amount of field work has started, mainly fertilizer application and a little bit of tillage. Soil conditions are still too wet and cool for planting. Long range forecast are for above normal rainfall and temperature, so at least half of that forecast is positive. Normally very little corn is planted before Easter in our area (no matter when Easter falls). That will certainly be the case this year.

The grain markets have been very quiet. It is too early for the market to add any premium on planting delays; to date planting progress nationwide is at an average pace. It will take at least until early May for any wet weather rally to start. No real news on the China Trade negotiations. Fingers crossed that this gets resolved sooner than later.

 

– Nathan Deters, AFM

 

 

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