Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.
Crop Progress: Favorable Weather Supporting Corn Growth
Jul 29, 2013
Corn conditions were unchanged from last week as favorable weather stabilized the crop through the critical growth stages. Crop conditions should improve as the six to ten day forecast calls for cooler temps and increased moisture.
As of July 28, 2013, 11% of the corn crop was in poor or very poor condition, compared to 48% last year. Corn in good or excellent condition was 63%, the same as last week. Corn at the silking growth stage was at 71%, 4% behind the five year average. Corn in the dough stage was 8%, compared to the five year average of 17%.
Soybean condition was 9% of the crop in poor or very poor condition, compared to 37% last year. Soybeans in good or excellent condition were 63%, compared to 29% last year. 65% of the soybean crop was in the blooming growth stage thus far, 22% behind last year at this time. Soybeans setting pods are at 20%, compared to 52% last year at this time.
Winter wheat was 81% harvested, compared to 86% last year at this time. 6% of the spring wheat crop was in poor or very poor condition, compared to 11% last year. Spring wheat in good or excellent condition was 68%, unchanged from last year at this time. Of the entire spring wheat crop, 94% was headed, compared to the five-year average of 95%.
Corn prices decreased 9.4% over the past week ending at $4.89 per bushel, soybean prices decreased by 10.1% over the past week ending at $13.67 per bushel, and wheat prices ended the week at $6.51 per bushel, a 1.2% decrease from last week. Year to year corn prices are down 40.4%, soybeans are down 20.8% and wheat is down 28.8%.
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