Southwest of Storm Lake

Crop Conditions for 06-28-17

Past Weeks Rainfall 0-.5
Soil Moisture Abnormally dry
Temperature Average
Crop Progress Slightly Below Average

4-12 Inches

Corn

Soybeans

Crop Stage 20 Inches Crop Stage 5-7 inches
Yield Potential Average Yield Potential Average

Corn Market

Soybean Market

Current Prices $3.09/bu Current Prices $8.45/bu.
Fall Prices $3.26/bu. Fall Prices $8.32/bu
Past Weeks Trend  lower Past Weeks Trend lower

Comments:

Corn has been side dressed and sprayed with herbicide.  Knee high by the Fourth of July is going to be a reality this year, as opposed to knee high by the 4th of June which has been the trend the past few years.  In general the corn crop looks very good but is behind in maturity.  Roots should be deep but we need to see some rain.

The soybean plants are short and most have been sprayed with their first shot of post planting herbicide.  The soybeans look much better than they did 2 weeks ago but we will look to August weather for soybean fields.

The markets are looking into July forecasts and this will determine price direction for the time being.  We suspect rally’s will be met with strong farmer selling and rallies will be short and fast.

 

Dan Niemeier
DanNiemeier

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