Drought
The updated drought monitor indicates dryness will continue to expand across eastern Missouri, eastern Iowa, Illinois, Indiana, Wisconsin, Michigan, Ohio and Pennsylvania.
Corn and soybeans are in a full-blown weather rally. After a sharply higher week, what should farmers watch for to decide when to market their crops?
November soybeans shot up $1 in just two days. The December corn contract skyrocketed 50 cents during the time. Drought and dryness concerns are fueling the grain markets, is it only weather impacting prices?
Drought continues to deepen its grip across the Corn Belt, with Iowa and Illinois seeing large jumps in the moderate and severe drought categories. Now, more of the U.S. corn and soybean crop is covered in drought.
Last week, 34% of the U.S. corn crop was covered in drought, and this week it jumped to 45%. The second crop conditions ratings of the season from USDA-NASS confirmed dryness is starting to deteriorate crop conditions.
Much of the eastern Corn Belt is currently experiencing drought. Dry conditions have been parked in the western region even longer. Low subsoil moisture is a concern, and short-term dryness is compounding the issue.
After consecutive years of drought, some areas of Texas are now breaking records for the wettest May ever. With most of their crop left to plant, it’s forcing farmers to make some tough decisions and crop changes.
It was blood bath in the grain markets with soybeans hitting multi-year lows to start the week, but growing drought concerns then sent markets higher. Dan Basse and Ben Brown explain what the trade is now watching.
The U.S. Drought Monitor says 26% of corn acres, 20% of soybean acres and 47% of winter wheat acres are in drought. The wheat crop has little chance of revival, but corn and soybeans have a long runway ahead of them.
California wastes water, hindering farmers’ ability to grow crops. Farmers are ready to conserve, but we need officials who prioritize the future.