Weather and Market Commentary: August 3, 2010
August 3, 2010 by fastlineblog
August 3, 2010
National corn ratings were down a touch this past week, but that took place without much deterioration in major producing stations. We actually saw some modest improvement in corn ratings for states like Illinois, Indiana, Nebraska and Minnesota (Minnesota crop now an incredible 90 percent good/excellent; forty percent in the excellent category alone) with stable ratings in Iowa. The states showing the most notable deterioration were Kansas, Kentucky, South Dakota, North Dakota, and Wisconsin. The national crop is rated three percentage points better than a year ago and is the highest rated crop for this time of year since a 76 percent good/excellent rating given to the record-yielding 2004 crop. We saw a similar scenario with soybean ratings this week, with national ratings down despite steady or even higher ratings for the soybean crops in major producers like Iowa, Illinois, Indiana, Missouri, and Minnesota (Minnesota crop rated this week at a stellar 87 percent good to excellent). Notable deterioration in soybean ratings was found in states such as Kansas, Kentucky, Nebraska, and South Dakota. The national rating of 66 percent good to excellent is a percentage point worse than a year ago, but other than the year-ago crop it is the highest rated crop for this time of year since 2004. We are now into the time of year when we really do not see ratings change all that much, and if they do change they tend to go lower as the crops tend to “look” worse as they move closer to maturity. Heat is still the big story in the near term for crops in the Delta, with highs there forecast to reach 100 degrees and higher through Thursday before there is very modest cooling for the end of the week. Rain is the bigger story for the Midwest, with rain chances around especially central and northern parts of the region for the next two days before things dry out for later Thursday and into Friday. There will continue to be rain chances in the Midwest forecast next week as well, but along with that will come some pretty impressive heat for the first part of next week as well with highs reaching the 90s in a lot of areas.
Freese-Notis Weather/Weather Trades, Inc. Des Moines, Iowa Copyright 2010 – All Rights Reserved
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Weather and Market Commentary: August 3, 2010
August 3, 2010 by fastlineblog
August 3, 2010
National corn ratings were down a touch this past week, but that took place without much deterioration in major producing stations. We actually saw some modest improvement in corn ratings for states like Illinois, Indiana, Nebraska and Minnesota (Minnesota crop now an incredible 90 percent good/excellent; forty percent in the excellent category alone) with stable ratings in Iowa. The states showing the most notable deterioration were Kansas, Kentucky, South Dakota, North Dakota, and Wisconsin. The national crop is rated three percentage points better than a year ago and is the highest rated crop for this time of year since a 76 percent good/excellent rating given to the record-yielding 2004 crop. We saw a similar scenario with soybean ratings this week, with national ratings down despite steady or even higher ratings for the soybean crops in major producers like Iowa, Illinois, Indiana, Missouri, and Minnesota (Minnesota crop rated this week at a stellar 87 percent good to excellent). Notable deterioration in soybean ratings was found in states such as Kansas, Kentucky, Nebraska, and South Dakota. The national rating of 66 percent good to excellent is a percentage point worse than a year ago, but other than the year-ago crop it is the highest rated crop for this time of year since 2004. We are now into the time of year when we really do not see ratings change all that much, and if they do change they tend to go lower as the crops tend to “look” worse as they move closer to maturity. Heat is still the big story in the near term for crops in the Delta, with highs there forecast to reach 100 degrees and higher through Thursday before there is very modest cooling for the end of the week. Rain is the bigger story for the Midwest, with rain chances around especially central and northern parts of the region for the next two days before things dry out for later Thursday and into Friday. There will continue to be rain chances in the Midwest forecast next week as well, but along with that will come some pretty impressive heat for the first part of next week as well with highs reaching the 90s in a lot of areas.
Freese-Notis Weather/Weather Trades, Inc. Des Moines, Iowa Copyright 2010 – All Rights Reserved
For Previous Fastline Blog Post – Click Here!
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