Drought
Recent heavy rainfall has washed away or at least lessened drought conditions in swaths of Nebraska and Iowa, according to a report released Thursday.
Warm temperatures and adequate soil moisture boosted plant populations, according to the Doane Advisory Services Co. crop tour.
Corn rose for a third session as a government report showed U.S. inventories will remain at a 17-year low on increasing use of the grain in livestock feed.
Corn futures rose the most in seven weeks after USDA raised its forecast for animal-feed demand, leaving the inventory estimate at a 17-year low.
While landowners welcome the news, Purdue Extension agricultural economist Craig Dobbins said it should signal caution for potential buyers.
On Friday, Jan. 11, USDA will release its final estimates on corn and soybean production and acreage for the 2012-13 crop year.
Among the most-viewed AgWeb videos this year: segments on the prospect of $7 corn and Fourth of July-like market conditions.
But next year’s toxin levels are expected to remain low unless hot and dry summer weather returns, a crop expert says.
Researchers at Washington State University pulled data about weather along with soil and crop types to develop an online service.
Nearly 2,000 producers in areas affected by dry weather have used funding provided through the Natural Resources Conservation Service.