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How Many Unplanted Acres, Successful Marketing Newsletter Asks
When the 2012 drought unfolded, it was devastating for the eastern Corn Belt. Longtime clients had told me that it was the worse they had ever experienced.
Those same clients are now saying that 2019 is even more devastating. Farming during a drought is no fun, but at least it’s farming.
This year, we are dealing with standing water in fields that we have not been able to turn a wheel in. This may be the year that we see how excessive moisture can ruin a crop by preventing it from being planted.
See this week’s Successful Marketing Newsletter.
On Monday, corn planting progress was 67%. Key states that remain under 50% planted include: Illinois (45%), Indiana (31%), Michigan (42%), Ohio (33%), and South Dakota (44%). There are still 30.0 million acres of corn that have to be planted.
The wet forecast for the eastern Corn Belt suggests we won’t see much progression in these numbers next week.
Soybean planting progress is now 40% behind the five-year average. Prices are pulling back a little, as traders try to determine how much impact the weather forecasts are going to have on progress for next week.
December corn found resistance near $4.54 on the charts.
See the full Successful Marketing Newsletter and why this area is proving to be stiff resistance.