Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.
Crop Progress: Corn Conditions Unchanged
Sep 30, 2013
Corn conditions remained unchanged over the last week. Corn and soybean harvests are both behind their historical five year averages.
As of September 29, 2013, 16% of the corn crop was in poor or very poor condition, unchanged from last week. Corn in good or excellent condition was 55%, unchanged from last week. Matured corn was at 63%, 7% behind the five year average. Corn that has been harvested was at 12%, behind last year's pace of 52%.
Soybean condition was 15% in poor or very poor condition, a 2% decrease from last week. Soybeans in good or excellent condition was 53%, an increase of 3% from last week. Soybeans dropping leaves were at 67%, compared to 83% last year at this time. A total of 11% of the soybean crop has been harvested, 9% behind the five year average.
Winter Wheat planted as of September 29, 2013 was 39%, only a percentage point behind the five year average. 12% of the winter wheat crop has emerged, unchanged from last year at this time.
December futures for corn ended the week at $4.41 per bushel, a 2.6% decline from last week. November soybeans ended the week at $12.82, a 1.9% decrease from last week, and December wheat ended the week at $6.78, a 3.8% increase from last week. Year to year corn prices are down 41.7%, soybeans are down 17.8%, and wheat is down 23.3%.
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