Wet Weather Continues To Hurt Crops

June is nearly gone and farmers hope the rain will leave with it. Rain throughout June has left farmers unable to manage weeds and pests and caused ponding in many areas. corn, soybeans and wheat conditions have responded to the reports of flooded fields, decreasing over the past two weeks.

The USDA estimated corn crop conditions in the U.S. as of June 28, at 68% as “Excellent” or “Good,” a 3% decrease from last week and a 12% decrease from last year. 24% of the crop was reported as “Fair,” a 1% increase from last week, but a 4% increase from last year. 8% was rated as “Poor” or “Very Poor”, a 2% increase from last week.

Corn silking was reported for the first time in this week’s report. 4% was reported silked, even with this time last year, but 4% behind the five-year average. Of the five largest corn-producing states, Illinois reported the most silked at 2%, followed by Indiana and Nebraska at 1%. Despite being in the lead, Illinois corn is 10% behind their five-year silking average.

The soybean crop was reported 94% planted, a 4% increase from last week, but 3% behind the five-year average. Of the five largest soybean producing states, Illinois had the most acres left to plant reporting 93% completion. Indiana and Nebraska are nearly complete with planting, reporting 96% and 97% completion.

Soybean emergence was reported at 89%, a 5% increase from last week, but 5% behind the five-year average. Of the five largest soybean producing states, Minnesota reported the most emergence at 99%, followed by Iowa at 96 and Indiana at 93%

Soybean blooming was reported for the first time this week. The USDA reported 8% of the crop bloomed, 1% behind this time last year, and 1% behind the five year average. The majority of the blooming reported is in southern growing areas.

The USDA estimated soybean crop conditions at 63% “Excellent” or “Good,” a 2% decrease from last week, and a 9% decrease from last year. 28% of the crop was rated as “Fair,” a 1% increase from last week, while 9% of the crop was rated as “Poor” or “Very Poor”.

Winter wheat harvested was reported at 38%, a 19% increase from last week, but 8% behind the five-year average. Wet conditions in the southern plains has caused significant harvesting delays to the wheat crop. Farmers have also reported that the wheat kernels have begun to sprout. Wheat sprouting causes a decrease in yields and penalties at the elevator.

The USDA estimated winter wheat conditions at 41% “Excellent” or “Good”, unchanged from last week, but an 11% increase from last year. 36% was rated “Fair”, a 1% decrease from last week. 23% was rated “Poor” or “Very Poor,” a 1% increase from last week, but a 21% decrease from last year.

Spring wheat headed was reported at 49%, a 26% increase from last week and a 20% increase from the five-year average. Spring wheat headed is well above schedule in the six states surveyed for this report.

Spring wheat conditions were reported at 72% “Excellent” or “Good,” a 1% increase from last week, and 2% above the five-year average. 23% was rated “Fair,” a 2% decrease from last week, and only 5% was rated “Poor” or “Very Poor.”

July futures for corn closed the week at $3.83 per bushel, a 6.4% increase from last week. July soybeans ended the week at $10.02, a 1.3% increase from last week, and July wheat ended the week at $5.80, a 15.8% increase from last week. Year-to-year corn prices are down 9.7%, soybeans are down 28.4%, but wheat is up 2.8%.

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