Pro Farmer Crop Tour: Corn Prices Could Spike


Pro Farmer Crop Tour: Corn Prices Could Spike


The Pro Farmer Crop Tour ended yesterday, with less than optimal corn yields likely coming from Eastern corn belt. In contrast, corn yields in Nebraska, Iowa and Minnesota seem to be well on their way to filling up bins.

Put the two together, though, and you’re likely looking at less corn this year, says Pro Farmer editors Chip Flory and Brian Grete. Pro Farmer pegs the 2015 U.S. corn crop at 13.323 billion bu.; average yield of 164.3 bu. per acre.

Soybeans, in contrast, are doing well. Pro Farmer pegs 2015 U.S. soybean crop at 3.887 billion bu.; average yield of 46.5 bu. per acre.

What this all suggests is that corn prices could spike once the harvest comes in. Soybeans, not so much, particularly since China has backed off big time in its soybean purchases, says Flory and Grete.

Get much more detail here and watch a video with Flory and Grete here.


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Spell Check

Robert Marshall
Vermont , IL
8/23/2015 07:36 PM

  The real question becomes will the market recognize the corn crop for what it is in time? I live in west central Illinois. We had 31 inches of rain between May 1 and July 20th. It is my understanding that if you hop in a car and drive from Havana IL to the Indiana line, you will be hard pressed to find decent corn. I haven't seen it myself but that's what a lot of people have told me. I know this for sure, one my fields averaged 249 last year. This year, half of it is gone do to persistent flooding back in the spring. I still find it hard to believe that there will be enough super corn to offset the really bad. Insurance is going to be a very important part of my revenue steam this year. I just hope the markets don't wait till January or later to figure out the crop isn't there.

Rice Dairy
Chicago, IL
8/25/2015 09:04 AM

  Robert, We know your situation well. We have traveled US 136 the past two years doing our Central IL crop tour. The contrast you speak about from 2014 to 2015 in corn yields is evident and very real. I would say that 30-40% of most fields are either washed out or stunted to the point of no useable yield when we traveled across Marshal County. Its been a tough in your area with 2012's drought really cooking your crops and now 2015 have flooded you out. Our yield check in eastern part of the county was only 90 an acre. Let's hope Mother Nature treats you better next year.


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