Crop Conditions for 10/15/18
|Past Weeks Rainfall||More than needed|
|Temperature||Highs from 30-60, lows from 25-35|
|Crop Progress||Harvest-delayed by moisture|
|Crop Stage||Mature-Early Harvest. Moisture percentage is ranging from high teens to mid 20’s.||Crop Stage||Mature-Harvest. Soybeans are ready to harvest when things dry out.|
|Yield Potential||Above trendline||Yield Potential||Above trendline|
|Current Prices||$3.29||Current Prices||$7.70|
|Spring Price||$3.54||Spring Price||$8.16|
|Past Weeks Trend||Higher||Past Weeks Trend||Higher|
Another week with very little progress. The wet weather may have finally stalled after yesterday’s (Sunday) unwelcome snow (pictures below). The weather for the next 2 weeks shows very limited chances for precipitation. Most of Northwest Iowa received some amount of snow on Sunday ranging from a light dusting up to 5 inches. The area southeast of Storm Lake was fortunate to “only” receive 2 inches or less. Most, if not all of the snow melted later during the day on Sunday and what remains will be gone on Monday afternoon.
Last Friday the USDA released the monthly Supply and Demand reports and for the first time in a long time, the report was not negative to the grain markets. The report was by not means positive but with how these reports have been going over the last couple years, anything that is not bearish has been a win.
Corn yield was lowered from 181.3 bu/acre down to 180.7 bu/acre. Not a significant move, but traders were expecting an increased yield estimate. Harvested acres were left at 81.77 million acres.
Soybean yield was increased from 52.8 to 53.1 bu/acre and harvested acres were lowered by 500,000 acres to 88.3 million acres. Not a bullish report but still lower than expectations.
Farmers should be able to resume harvest in most areas on Monday afternoon or Tuesday depending on soil conditions. The main obstacle to harvest at this point will be the ability to drive across a field without getting stuck in the mud.
Here are some pictures taken on Sunday from the Lake City area in Calhoun County.
Crop Update Archives – Please click on the links below to view the past pdf’s or click the green button for our Southeast Archives page