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USDA: Corn looking up, soybeans still being planted

Agriculture.com Staff 06/29/2009 @ 2:32pm

The last week was a big one for the development of the '09 corn crop, with hot, muggy conditions in much of the Corn Belt. But, some farmers who have chest-high corn fields now still have bare-dirt soybean fields yet to be planted.

The corn crop improved slightly over the last week on improved weather: As of Sunday, 72% of the crop is in good to excellent condition, according to Monday's USDA numbers. that's up 2% from the previous week and 11% better than a year ago at this time.

Sixty-eight percent of the soybean crop is in good to excellent condition. But, that's just the beans in the ground: Nine percent of the nation's bean crop is still in the bag. That's 7% higher than it was a week ago, but still off the normal pace.

"A lot of unplanted fields around here collecting on insurance. I had a trip down to southern Illinois on Saturday and all I can say is I really feel for you guys," says Agriculture Online Marketing Talk member wcil.

"Still plenty of beans not planted in northern Missouri also," adds Marketing Talk member Don NMO.

On Tuesday morning, USDA will release its monthly Crop Production and Grain Stocks reports, both of which could have big-time raminfications for the grain trade. Marketing Talk members say they expect corn acres to be from 83 to 85 million acres, though some say that may not tell the whole story.

"I think when all is said and done you will see corn acres around 82.5 million acres and beans around 80 million. I don't think the USDA is quite ready to go out on a limb with figures like that yet though," says Marketing Talk member 67guy. "I think the report will show corn acres at 84 and bean acres around 78.5. There are too many unknowns at this point for them nail it down."

Watch Agriculture.com Tuesday morning for updates on the USDA numbers and the market's reaction.

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The last week was a big one for the development of the '09 corn crop, with hot, muggy conditions in much of the Corn Belt. But, some farmers who have chest-high corn fields now still have bare-dirt soybean fields yet to be planted.

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