Weather and Market Commentary: August 10, 2010
August 10, 2010 by sabrina829
Tuesday, August 10, 2010:
Fairly stable national corn and soybean crop condition ratings this week, though in individual states we saw some fairly impressive amounts of deterioration and improvement. Kansas and Nebraska saw deterioration in their corn ratings due to a lot of heat last week in those states, with Illinois and Michigan also reporting lower corn crop ratings. Conversely, we saw good amounts of improvement for crop ratings in Ohio, Wisconsin, the Dakotas, and Minnesota; the Minnesota crop is now rated at a stellar 91 percent good to excellent. For soybeans, deterioration was found last week in mostly Kansas, Kentucky, Mississippi, Missouri, and Tennessee, while improvement was found in especially South Dakota and Wisconsin. These remain highly rated crops versus historical standards. The 71 percent good/excellent rating for the corn crop is three points better than last year’s big crop, and is the highest rated crop since the record-yielding 2004 crop (which was 76 percent good/excellent at around this same time). The national soybean rating of 66 percent good/excellent matches the year-ago rating and is also the highest-rated crop since the record-yielding 2004 crop (which was 73 percent good/excellent at this same time). We are to the time of year which getting big movement on national ratings on a week-to-week basis is uncommon, and if anything we tend to see some deterioration as the crops move closer to maturity and thus start to “look” like they are deteriorating some. We might see that happen rather quickly this year, as the crops are maturing fast due to early spring planting and warm summer temperatures (14 percent of the national corn crop is denting this week, three percentage points more than the five-year average and almost triple the amount from last year). Very warm temperatures for the rest of this week will continue to push the crops quickly towards maturity, but it will be somewhat cooler next week and with that will come some drier weather for the Corn Belt as well (certainly welcome for parts of the Corn Belt, but especially areas in the south would appreciate wet weather).
Freese-Notis Weather/Weather Trades, Inc. Des Moines, Iowa Copyright 2010 – All Rights Reserved
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Weather and Market Commentary: August 10, 2010
August 10, 2010 by sabrina829
Tuesday, August 10, 2010:
Fairly stable national corn and soybean crop condition ratings this week, though in individual states we saw some fairly impressive amounts of deterioration and improvement. Kansas and Nebraska saw deterioration in their corn ratings due to a lot of heat last week in those states, with Illinois and Michigan also reporting lower corn crop ratings. Conversely, we saw good amounts of improvement for crop ratings in Ohio, Wisconsin, the Dakotas, and Minnesota; the Minnesota crop is now rated at a stellar 91 percent good to excellent. For soybeans, deterioration was found last week in mostly Kansas, Kentucky, Mississippi, Missouri, and Tennessee, while improvement was found in especially South Dakota and Wisconsin. These remain highly rated crops versus historical standards. The 71 percent good/excellent rating for the corn crop is three points better than last year’s big crop, and is the highest rated crop since the record-yielding 2004 crop (which was 76 percent good/excellent at around this same time). The national soybean rating of 66 percent good/excellent matches the year-ago rating and is also the highest-rated crop since the record-yielding 2004 crop (which was 73 percent good/excellent at this same time). We are to the time of year which getting big movement on national ratings on a week-to-week basis is uncommon, and if anything we tend to see some deterioration as the crops move closer to maturity and thus start to “look” like they are deteriorating some. We might see that happen rather quickly this year, as the crops are maturing fast due to early spring planting and warm summer temperatures (14 percent of the national corn crop is denting this week, three percentage points more than the five-year average and almost triple the amount from last year). Very warm temperatures for the rest of this week will continue to push the crops quickly towards maturity, but it will be somewhat cooler next week and with that will come some drier weather for the Corn Belt as well (certainly welcome for parts of the Corn Belt, but especially areas in the south would appreciate wet weather).
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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