Nothing to write home about.......................EXCEPT the Winter wheat condition dropped 4%...bullish!
#Corn planting was 17% complete versus a 20% avg. That is hardly deviated from the normal course of planting just yet since it is early. With this level of planting progress on this date there is basically no correlation as to whether we add or lose corn acres from March.
Per the NWS 6-10/10-14 it does look like optimum planting weather. Warm and dry. For those traders with drought on the back of their mind, they can’t be seeing anything that changes their opinion that there are no real changes on the horizon and the dry trend will continue.
Crop progress lagging behind last year is providing corn futures with a lift Tuesday. According to the USDA's crop progress report released late yesterday, the US corn crop is now 17% planted -- which is down from 24% at the same time last year and from the 5-year average of 20%. "At the present time several states in the Corn Belt have seen their topsoil moisture levels diminish, with some states in the Upper Plains seeing a considerable decline," says Karl Setzer of AgriVisor. Corn futures are up 0.8% pre-market Tuesday. Meanwhile, soybean and spring wheat planting is actually ahead of where it was this time last year -- with the soybean crop 8% planted versus 7% at this time last year and spring wheat 28% planted versus 13% last year
Thanks Jim!
Lots of planting going on right now.
Doesn't explain why new crop is down
Harvest time onward for the whole new crop yr is red
Only old crop is up
Old crop we can understand with SA possibly another buyer for our old crop. Brazil lifted tariffs on imported corn. Brazil new crop is 30-40% planted after optimum planting date { think those are correct numbers]
Lower yield unless rain continues past beginning of normal dry period for a month. I think 98 bu/acre is average for a second crop of corn
I always wondered why the chickens/livestock are not closer to where the corn is grown
500-1500 kilometer drive by truck to access corn for feed
We are planting into dry soil with nothing in sub soil reserve for hot dry june/july
Talking to others, tillage conditions are excellent but no reserve moisture. Some can't get seed to moisture on hard dry soil, some lost what moisture they had and some is in moisture and some in dry soil. Not a recipe for even emergence which is a yield killer. Of coarse some are planting in excellent conditions, until the tank runs dry
Usually a rain covers up your planting sins but this yr, only a couple pockets with rain.
Planted acres may increase as wet spots will be dry enough to plant. But that means there is another spot too dry so it evens out.
Not selling one bit of new crop until I see the June/July crop condition of my crop. This could be a disaster "here". Many producers are like me, we don't want to go look for corn to cover contracted bu we don't have
Can't even cover on chicago board as basis is a factor [big time] in a short crop, not to mention margin calls
Posters on this forum advising to sell corn about a 1.50 ago, local cash bid
Even the women in the family were all screaming to sell, sell. Nuts to that idea
New crop is now green
When there are expanded limit parameters in April, there are problems.
Sure didn’t take us long to test the new, higher limit onTuesday night....in front month corn.
I think that everything else reversed lower today, with ck also closing well off it’s highs and now getting hit too tonight.
