Weather and Market Commentary: August 17, 2010
August 17, 2010 by sabrina829
Tuesday, August 17, 2010:
With Nebraska being the only major producing state that truly saw improved conditions, it is easy to see why national corn ratings this week fell by two full percentage points in the good-to-excellent category. Indiana was dry and quite hot last week, so a drop of five percentage points in the good/excellent category for their corn crop is not a shock (with an even bigger drop in the crop rating for neighboring Kentucky). Lower ratings for the Iowa corn crop last week have to be blamed on flooding rains that hit much of the central part of that state. Make no mistake that it is still a highly-rated crop, highlighted by Minnesota where a full 41 percent of the corn crop is rated as “excellent”. This year’s crop is still rated higher than a year ago and remains the highest-rated corn crop for this time of year since the big crop of 2004. National soybean ratings stayed about steady this past week, with sizable deterioration in states like Indiana, Iowa, Kansas, Kentucky, South Dakota and Tennessee offset by decent improvement in soybean crop ratings for Michigan, Minnesota, Missouri, Nebraska, North Dakota, and Ohio. Like corn, the national soybean crop is still rated higher than a year ago and remains the highest rated crop for this time of year since 2004. We are into the time of year when historically it has been more difficult to see improved crop ratings, as the crops “look” worse as they move closer to maturity. And we have very fast maturing crops this year, with already one-third of the Nation’s corn crop dented and over eighty percent of the soybeans setting pods. Crops will continue to be “pushed” towards maturity rather rapidly with temperatures looking to average above normal for especially Friday through Tuesday and again for the final days of the month. It is not an especially wet pattern for much of the Corn Belt either, with rains over the next ten days favoring extreme western and northwestern parts of the Midwest and also favoring areas south of the Ohio River.
Freese-Notis Weather/Weather Trades, Inc. Des Moines, Iowa Copyright 2010 – All Rights Reserved
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Weather and Market Commentary: August 17, 2010
August 17, 2010 by sabrina829
Tuesday, August 17, 2010:
With Nebraska being the only major producing state that truly saw improved conditions, it is easy to see why national corn ratings this week fell by two full percentage points in the good-to-excellent category. Indiana was dry and quite hot last week, so a drop of five percentage points in the good/excellent category for their corn crop is not a shock (with an even bigger drop in the crop rating for neighboring Kentucky). Lower ratings for the Iowa corn crop last week have to be blamed on flooding rains that hit much of the central part of that state. Make no mistake that it is still a highly-rated crop, highlighted by Minnesota where a full 41 percent of the corn crop is rated as “excellent”. This year’s crop is still rated higher than a year ago and remains the highest-rated corn crop for this time of year since the big crop of 2004. National soybean ratings stayed about steady this past week, with sizable deterioration in states like Indiana, Iowa, Kansas, Kentucky, South Dakota and Tennessee offset by decent improvement in soybean crop ratings for Michigan, Minnesota, Missouri, Nebraska, North Dakota, and Ohio. Like corn, the national soybean crop is still rated higher than a year ago and remains the highest rated crop for this time of year since 2004. We are into the time of year when historically it has been more difficult to see improved crop ratings, as the crops “look” worse as they move closer to maturity. And we have very fast maturing crops this year, with already one-third of the Nation’s corn crop dented and over eighty percent of the soybeans setting pods. Crops will continue to be “pushed” towards maturity rather rapidly with temperatures looking to average above normal for especially Friday through Tuesday and again for the final days of the month. It is not an especially wet pattern for much of the Corn Belt either, with rains over the next ten days favoring extreme western and northwestern parts of the Midwest and also favoring areas south of the Ohio River.
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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