Page 63 - Crop Progress News Today

Lack of rain has been a concern, according to growers sharing their Feedback from the Field. “[We] need rain badly,” a corn grower in southeastern Texas fretted. “Very dry soil conditions,” a north central Iowa farmer echoed. “Tiles are not running. Unless we receive timely rains during the growing season, we will likely experience significant yield reductions in this area this year.” “With July 2021 corn moving over $7/bushel and input prices on the rise, maintaining yields will ...

Photo credit: Iowa Environmental Mesonet Parts of the Corn Belt have received much needed rain over the last seven days, but other areas missed out. Here’s a closer look at the precipitation that has fallen across the area in the last week. With almost half of the country’s corn crop in the ground, timely rain will be critical for even emergence. In Iowa, farmers welcomed more than an inch and a half of rain in parts of Monona, Harrison, Pottawattamie, Webster, Humbolt, Lee, and De...

Dry Brazilian forecast spurs another corn rally.

Favorable weather conditions not only accelerated planting across the state, there were some scattered reports of corn emergence over the last week. “The weather over the past several days provided a great window for farmers to plant,” says Iowa Secretary of Agriculture, Mike Naig. “Now we need some rain, especially in the northern parts of the state to help push the crop along. Short-term outlooks are promising with the potential for cooler and wetter days ahead.” According to the USDA...

Grains start the week higher on global weather woes.

Losses underpinned by tightening global supplies, lingering drought conditions Corn down 2-4 Wheat down 2-10 cents Corn As April comes to a close, corn futures are slated to end the month up 15% - the largest monthly gain for the contract in over two years. As the May 2021 contract expires, traders are expecting deliveries on the first notice day to be minimal against the backdrop of tightening global supplies and strong cash demand. Corn prices moved $0.02-$0.03/bushel lower this morning as a ...

Below normal temperatures last week delayed planting for some farmers but led to accelerated planting near the weekend, according to the latest Crop Progress and Condition report from the USDA National Agricultural Statistics Service. Iowa farmers had 5.6 days suitable for fieldwork, which included applying anhydrous and dry fertilizer, tilling fields, and planting. Twenty percent of the state’s corn crop has been planted, one day behind the five year average, and 6% of soybean crops are plan...

Volatility. It’s big. Six dollar corn came and went for the May 2021 futures contract. Within two weeks, the price of May corn futures went from $6 to an astounding $7.20-1/2. Prices not seen since 2013! As I wrote about two weeks ago, $6.00 was a major resistance point for old crop futures prices. At the time, it seemed a setback was likely for prices, unless fresh bullish news emerged.  That new bullish news did emerge; the second crop Safrhina corn in Brazil is suffering due to extreme he...

May 2021 corn futures pass $7/bushel, but other contracts move south on profit-taking Corn down 9-10 cents Wheat down 12-15 cents Corn Nearby May 2021 futures prices closed yesterday at $6.955/bushel but met resistance at the $7/bushel level. May 2021 futures clawed back those gains overnight, rising past $7/bushel as the contract nears expiration, but the rest of the corn complex posted losses this morning as profit-takers went to work overnight, taking the top off corn’s eight-year high. A ...

DIARY-Today in Washington - April 29 Reuters 4/28/2021 ------------------------------------------------------- 0830/1230: The Commerce Dept. issues Durable Goods for March. 1000/1400: The Commerce Dept. issues annual benchmark revisions to U.S. Retail Sales, seasonally adjusted and unadjusted, through March 2021. 1030/1430: The Federal Reserve Bank of Dallas issues Texas Manufacturing Outlook Survey for April. 1100/1500: The USDA releases weekly U.S. export inspections for grains and oilseeds...