Weather - General
Over the next several weeks, growers will be determining how much yield potential remains in their corn and soybean crops impacted by damaging rains and wind storms.
A severe Midwest storm system is producing destructive 100+ mph winds from Chicago to northwest Indiana as farmers survey field damage.
Agronomists urge farmers to scout, treat and communicate any significant losses to landlords and bankers prior to harvest.
USDA ratings show that the nation’s crops lag behind Iowa’s current strong performance, while drowned-out areas and weather stress in Illinois could deliver harvest disappointments.
Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
Kevin Duling with KD Investors says corn and soybeans eased with a 1% improvement in ratings, while the weather is moderating.
Dave Chatterton with Strategic Farm Marketing says the market initially traded the heat for this week which is unwelcome for corn during pollination time.
Corn and soybean markets face uncertainty as China returns to buy U.S. soybeans, USDA acreage questions linger and weather drives price outlooks. Analysts offer grain marketing insights for farmers to navigate summer.
Jon Scheve with Scheve Grain says USDA punted on corn with the June Acreage Report and now farmers are in limbo until the August certified acres. So what should they do from a marketing standpoint?