Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.
Crop Progress: Crop Conditions Improve
Sep 23, 2013
Crop conditions improved for the first time in five weeks. Corn and soybean harvests are both behind their five year averages.
As of September 22, 2013, 16% of the corn crop was in poor or very poor condition, a 2% decrease from last week. Corn in good or excellent condition was 55%, a 2% increase from last week. Corn was 91% dented this week, behind the five year average of 93%. Matured corn was at 40%, 15% behind the five year average. Corn that has been harvested was at 7%, behind last year's pace of 37%.
Soybean condition was 17% of the crop in poor or very poor condition, a 1% decrease from last week. Soybeans in good or excellent condition was 50%, unchanged from last week. Soybeans dropping leaves were at 47%, compared to 71% last year at this time. A total of 3% of the soybean crop has been harvested, 6% behind the five year average.
Spring wheat was 93% harvested as of September 22, 2013, in line with the five year average.
December futures for corn ended the week at $4.53 per bushel, a 0.7% decline from last week. November soybeans ended the week at 13.07, a 3.0% decrease from last week, and December wheat ended the week at $6.53, a 1.9% increase from last week. Year to year corn prices are down 39.1%, soybeans are down 18.8%, and wheat is down 26.8%.
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