Farmland Outlooks & Moisture Extremes: What To Know This Week
After a few days of sweltering heat in much of the nation's center, conditions have turned wetter and cooler in the region as crop conditions stabilize despite some growing crop disease worries. See what else you need to know this week.
Last week's heat was likely behind a slight dip in soybean conditions, according to this week's USDA Crop Progress report. Conditions didn't change much, though (corn improved 1%), showing the crops remain in stable shape as talk starts to turn to harvest preparation.
Though soybean conditions dipped, this week's weather shift should help that crop bounce back in the next few days, farmers said this week. Though many still expect strong crop yields this fall, the recent heat may have done some damage. What do you think?
One reason yields could be trimmed -- one that some say could perk the attention of the markets if it remains in play -- is growing crop disease pressure. Sudden Death Syndrome, for example, is starting to show up in soybean fields around the Corn Belt, farmers say. Are you seeing the disease?
Though the heat's been the major weather story lately, the cold got a little attention this week, namely through an outlook that calls for another harsh winter, one in which "no region will see prolonged spells of above-normal temperatures." See more on the outlook and the latest weather chat.
Turning to the markets this week, it's been another mostly lower week, with continued expectations of a 'mammoth' crop in the field. One analyst says it's time to rehedge your market positions to protect from too much downside exposure. Are you set up for lower prices?
Those lower prices won't necessarily foreshadow a downturn in the the farmland market, according to a report released this week. While the grain and land markets are tied together, there are factors that prevent the latter from following the former too closely, experts say.
Another study released this week shows interest rates and cash rent levels will be the biggest forebearers of a lower land market, even if the grain markets continue to slide lower. But, it's not all 'doom and gloom,' one land market-watcher says.
While ample moisture's present in most of the Midwest, the drought conditions pounding California continue to worsen, driving that state's agriculture production sharply lower. See a few of the latest numbers and the chances for a recovery anytime soon.
Temperatures moderated in the Midwest and the markets continued to slip as crop conditions stabilize.