Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.
Crop Progress: Conditions Improve Despite Wetness
Jul 01, 2013
Most farmers have finished planting the 2013 crop and are turning their attention to weed and pest control. Although crop conditions are better than last year at this time, historically late planting may have an adverse affect on crop yields.
Corn conditions were 8% of the crop in poor or very poor condition, compared to 22% last year. Corn in good or excellent condition was 67%, compared to 48% last year. Corn silking was at 3% as of June 30, 2013, compared to 22% from last year.
Soybeans planted were at 96%, slightly behind the five year average of 98%. Last year at this time, 99% of soybeans had emerged, but only 91% have emerged as of June 30, 2013. Soybean conditions were 7% of the crop in poor or very poor condition, compared to 22% last year. Soybeans in good excellent condition was 67%, compared to 45% last year.
Winter wheat conditions were 42% of the crop in poor or very poor condition. Winter wheat in good or excellent condition was 32%, the same as last week. Harvesting began last week and 43% of the winter wheat has been harvested, compared to 73% last year at the same time.
Spring wheat has all been planted and 93% has emerged, compared to the five year average of 99%. Spring wheat conditions were 5% of the crop in poor or very poor condition, the same as last year at this time. Spring wheat in good or excellent condition was 68%, compared to 71% last year.
The July corn contract increased 0.3% over the past week ending at $6.55 per bushel, soybean prices increased by 3.8% over the past week ending at $15.70 per bushel, and wheat prices ended the week at $6.45 per bushel, a 5.0% decrease from last week. Year to year corn prices are down 5.4%, soybeans are up 2.5% and wheat is down 14.5%.
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