Weather and Market Commentary: June 29, 2010
June 29, 2010 by fastlineblog
Tuesday June 29, 2010
Too much rain in the Corn Belt and too much heat/dryness in the Delta continued to take their toll on the 2010 national corn and soybean crops last week. Having crop conditions deteriorate due to too much rain in the summer had been basically unheard of before 1993, and now we have seen it in two of the last three summers (2008 being the other obvious case). When one considers that preliminary calculations show that this month of June has been the wettest ever for Iowa, Nebraska, and Michigan; and among the ten wettest ever for Illinois, Indiana, and Wisconsin, it is easy to see why we have seen Corn Belt crop ratings come off of their seasonal highs over the past two weeks. Corn crops in Indiana, Iowa, Minnesota, and Missouri all saw their condition ratings drop by three percentage points in the good/excellent category, with soybean rating losses in the good/excellent category ranging from five to as much as seven percentage points in Indiana, Minnesota, and Missouri. Dryness in the Delta continues be a burden on crops there; Tennessee corn ratings were down six percentage points in the good/excellent category, while Arkansas soybean ratings were down by eleven percentage points. The two percentage point drop in national soybean ratings this week means that the crop is now rated a bit worse than last year’s crop at this same time, with the national corn crop just one percentage point better than a year ago. The optimist in me says that it is not such a bad thing to have crops comparable in condition to a year ago…given that last year’s crops set new national yield records! Most of the Midwest looks dry for the rest of this week, and with temperatures not hot in that period I would think that would be enough to at least stabilize national ratings next week and quite likely even give us some improvement. Residents of the Midwest should enjoy that dry weather while it lasts though, as rain will be breaking out in far northwestern parts of the region for late on Saturday, and it looks like considerable rain will again be falling for Sunday to Tuesday of next week. We are still not looking at any big heat coming up, so stress on pollinating corn from heat/dryness looks to be very limited for the first part of that critical part of the growing cycle.
Freese-Notis Weather/Weather Trades, Inc. Des Moines, Iowa Copyright 2010 – All Rights Reserved
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Weather and Market Commentary: June 29, 2010
June 29, 2010 by fastlineblog
Tuesday June 29, 2010
Too much rain in the Corn Belt and too much heat/dryness in the Delta continued to take their toll on the 2010 national corn and soybean crops last week. Having crop conditions deteriorate due to too much rain in the summer had been basically unheard of before 1993, and now we have seen it in two of the last three summers (2008 being the other obvious case). When one considers that preliminary calculations show that this month of June has been the wettest ever for Iowa, Nebraska, and Michigan; and among the ten wettest ever for Illinois, Indiana, and Wisconsin, it is easy to see why we have seen Corn Belt crop ratings come off of their seasonal highs over the past two weeks. Corn crops in Indiana, Iowa, Minnesota, and Missouri all saw their condition ratings drop by three percentage points in the good/excellent category, with soybean rating losses in the good/excellent category ranging from five to as much as seven percentage points in Indiana, Minnesota, and Missouri. Dryness in the Delta continues be a burden on crops there; Tennessee corn ratings were down six percentage points in the good/excellent category, while Arkansas soybean ratings were down by eleven percentage points. The two percentage point drop in national soybean ratings this week means that the crop is now rated a bit worse than last year’s crop at this same time, with the national corn crop just one percentage point better than a year ago. The optimist in me says that it is not such a bad thing to have crops comparable in condition to a year ago…given that last year’s crops set new national yield records! Most of the Midwest looks dry for the rest of this week, and with temperatures not hot in that period I would think that would be enough to at least stabilize national ratings next week and quite likely even give us some improvement. Residents of the Midwest should enjoy that dry weather while it lasts though, as rain will be breaking out in far northwestern parts of the region for late on Saturday, and it looks like considerable rain will again be falling for Sunday to Tuesday of next week. We are still not looking at any big heat coming up, so stress on pollinating corn from heat/dryness looks to be very limited for the first part of that critical part of the growing cycle.
Freese-Notis Weather/Weather Trades, Inc. Des Moines, Iowa Copyright 2010 – All Rights Reserved
For Previous Fastline Blog Posts – Click Here!
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