Heading into Tuesday's report -- delayed a day by the Memorial Day holiday on Monday -- trade expectations were around 90% completion for corn planting.
Though the marketplace typically abides by the "rain makes grain" mantra, the moisture that's hit parts of the Plains and Corn Belt has limited planting and crop development progress, so much so now some farmers are weighing replant decisions and even leav
Consider weather, susceptibility in deciding whether to put down a fungicide application.
The optimal planting window has closed...quite some time ago for some farmers. That means any corn planted from this point on won't yield as much as that planted under conditions closer to "ideal" earlier in the spring, agronomists agree.
Long Weekend Can Mean Market Volatility
Temperatures are expected to stay below normal and rainfall's likely to fall in amounts greater than normal in parts of the central U.S. where it's needed least in the coming days.
Prices will have to fall in the next year if grain farmers in much of the heart of the Corn Belt are going to make money next year.
Though Monday's USDA Crop Progress report showed another big week of planting progress, it certainly wasn't a dry week, with anywhere from .5 inch to 2 inches of rain falling through the Corn Belt and heavier amounts up to 4 inches in the Dakotas and northern Corn Belt, according to Tuesday's USDA Weekly Weather and Crop Bulletin.
The spring conditions in a lot of areas have been generally cool and damp since most of the soybeans in the ground made their way there. Not exactly perfect for germinating seeds, but good for a lot of diseases.
If you think you've got damage to young corn and soybeans already in the field, make some time in the next few days to get into the field and scout before you make any decisions.