Northeast Crop Condition Update: September 18th, 2017

Corn		Soybeans

Crop Stage	6.5 to 8 feet tall, dent to dry down	Crop Stage	18 to 26 inches tall, dry down to harvest
Yield Potential	Below Average to Average	Yield Potential	Below Average to Average
Corn Market		Soybean Market
Current Prices	$3.05/bu	Current Prices	$9.01/bu.
Fall Prices	$3.05/bu.	Fall Prices	$9.01/bu
Past Weeks Trend	Mixed	Past Weeks Trend	Mixed
Comments:
Weather: A Mix of highs in the 70’s and the 80’s with moderate rainfall has progressed both crops well over the last 14 days. Recent rainfall has knocked many leaves off of the soybeans in the area, allowing for plenty of air flow to aid in dry down as we near harvest. Many farmers plan on beginning harvest this coming weekend and next week. Corn dry down has been consistent with fields that had fungicide applied taking a week to 10 days longer to reach the same maturity. Corn harvest will be in full swing by the middle of next month. Below is the drought monitor map from September 12th: Grain Markets: A USDA report released last week dictated yield prospects higher than originally predicted by Chicago analysts. This drove prices down for only a day until new export sales were announced that were also larger than expected. As we believed before, if the yields match up with the USDA estimates, global demand will drive the market in the short term.