Weather Poses Significant Risk to U.S. Corn Crop Entering Critical Pollination Phase

After last year's delayed start to the season, planting of the 2020 U.S. corn crop brought with it quite a bit of optimism for producers across the Heartland. Now, according to Planalytics AgriBusiness Weather group, that optimism may have tempered somewhat as a combination of hot, dry conditions have taken hold from the Dakotas south to Missouri and east to Ohio.

"No sooner did seed get in the ground when an unusually cold pattern set up that continued through the first two weeks of May", says Jeffrey Doran, Planalytics AgriBusiness Meteorologist and Director, Specialized Support and Services. "Sub-freezing temperatures were reported as far south as the Missouri Valley and Mid-South regions that slowed crop development. By the end of May, the pattern reversed itself bringing surges of strong heat that have continued into June. Unfortunately, precipitation has been hit or miss with...

Rabobank: Supply Slide Saves Grounded Demand

Agricultural commodities were heavily impacted by trade wars, African swine fever, and erratic weather in 2019. According to the RaboResearch report "Outlook 2020: Supply Slide Saves Grounded Demand," many of these factors will remain key for agri commodity prices in 2020.

In 2019, agri commodity markets were impacted by several unprecedented incidents and uncommonly severe conditions. China's hog herd declined significantly, as a result of African swine fever (ASF). This drastically weakened demand for feed and, combined with the US-China trade war, resulted in a significant slowdown in the global soybean trade.

Meanwhile, record US corn- and soybean-planting delays drove corn prices from three-year lows to six-year highs within a few weeks. Then, improved...

Corn Futures Tumble, After US Makes Surprise Yield Upgrade

Corn futures tumbled, after the US unexpectedly raised its yield forecast for this year’s crop, but soybean prices gained, with the estimate for output of the oilseed cut by more than investors had expected.

Chicago corn futures for December, which had stood a little lower ahead of the US Department of Agriculture’s Wasde crop briefing, extended those losses sharply afterwards, chalking up a 3.7% loss at one stage.

The contract, one hour after the report, stood at $3.81 ½ a bushel, a drop of 3.2% on the day.

The declines reflected a surprise upgrade in the Wasde to the USDA’s forecast for the domestic corn yield this year, by 0.2 bushels per acre to 168.4 bushels per acre, while lowering expectations for consumption of the grain...

USDA Forecasts U.S. Corn and Soybean Production Down from 2018

The Crop Production report issued today by USDA’s National Agricultural Statistics Service (NASS) forecasted soybean and corn production down from 2018. Soybean production is down 19 percent from 2018, forecast at 3.68 billion bushels; corn growers are expected to decrease their production 4 percent from last year, forecast at 13.9 billion bushels.

Area for soybean harvest is forecast at 75.9 million acres with planted area for the nation estimated at 76.7 million acres, down 4 percent from the June estimate, and down 14 percent from last year. Soybean yields are expected to average 48.5 bushels per acre, down 3.1 bushels from last year. If realized, the forecasted yield will be a record high in...

REPORTER: Planting Season Gets Off to a Slow Start