Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.
Crop Progress: Crop Conditions Continue Downward Trend
Sep 03, 2013
Throughout the month of August, crop conditions deteriorated weekly. As we move into the fall months, a crop's overall maturity and condition will be the important indicators of yield potential.
As of September 1, 2013, 16% of the corn crop was in poor or very poor condition, a 2% increase from last week. Corn in good or excellent condition was 56%, a 3% decrease from last week. Corn in the dough stage was 84%, compared to the five year average of 89%. Corn was 42% dented this week, behind the five year average of 61%. Matured corn was at 4%, well behind the five year average of 17%.
Soybean condition was 15% of the crop in poor or very poor condition, a 2% increase from last week. Soybeans in good or excellent condition were 54%, a 4% decrease from last week. Soybeans setting pods were at 92%, compared to 98% last year at this time.
Spring wheat was 64% harvested as of September 1, 2013, compared to 93% last year. Spring wheat in poor or very poor condition was 6% and spring wheat in good or excellent condition was 70%.
Corn prices decreased 0.2% over the past week ending at $4.98 per bushel, and soybean prices increased 1.5% ending at $14.35 per bushel, and wheat prices ended the week at $6.36 per bushel, a 2.2% decrease from last week. Year to year corn prices are down 38.3%, soybeans are down 19.0%, and wheat is down 26.6%.
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