Weather and Market Commentary- June 30, 2009

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Weather and Market Commentary- June 30, 2009

June 30, 2009 by sabrina829

Tuesday, June 30, 2009:

Though planting progress numbers on Monday showed that there were still notable amounts of soybeans left to plant in states like Illinois and Missouri, clearly we have reached the point in the growing season where rainfall is now going to be considered as beneficial to crop prospects (and thus negative to corn and soybean prices). Coming up we will see some parts of the main corn and soybean growing area of the Nation’s midsection get some very nice rains, but other areas will easily be in a net drying mode. If one were to list the areas that are going to be seeing the real nice rains coming up, that would include the central Plains, the southern Corn Belt, and the Delta. Look for much of Nebraska, Kansas, Missouri, far southern Iowa, southern Illinois, far southern indiana, Kentucky, Arkansas, Tennessee, and northern parts of Mississippi, Alabama, and Georgia to eventually pick up some very nice rains. Those rains will get started in the Plains later in this work-week period, and gradually move into the Delta region for the holiday weekend period.

Areas coming up that are going to see very limited amounts of rainfall would be the northeastern part of the Corn Belt. It is pretty difficult to say when a real big rain will again occur over especially Minnesota, Wisconsin, Michigan, northeastern Iowa, and northern parts of Illinois, Indiana, and Ohio. Cool temperatures will dominate especially the Midwest through early next week, with no extreme heat in the forecast through at least next Tuesday. It will turn warmer after that, with July 9-10 looking to be a “peak” period for that warmth. Even then, the real warmth looks to stay west of the Mississippi River, and there are signs that even that warmth may slide even further west than that towards the middle of the month. All in all, its not a bad weather forecast for corn and soybean crops, particularly with the solid hope for rainfall in Delta growing areas that ended the month of June on such a hot and dry note.