cornproduction

My reason on why the US corn yields work lower

Corn traders continue to debate U.S. weather, including past, present and future.

Corn traders continue to debate U.S. weather, including past, present and future. Many bulls argue that extreme conditions have caused complications in many important growing regions. Conditions in South Dakota fell by -17% last week and are now -27% worse than last year. Conditions in Indiana -29% worse than last year; North Dakota -28% worse; Illinois -17% worse; Ohio -15% worse; Wisconsin -15% worse; Missouri -13% worse; Kansas -5% worse; Iowa -3% worse. Throw on top talk from agronomist in many areas sighting leaves "rolling" early into the high winds and abnormal heat. Meaning plant development has perhaps slowed and adding leaves could be more difficult. The bears argue that the dry conditions my actually help the plant in some locations as the roots will have to move deeper searching for water, ultimately helping to strengthen the plant. The bears also believe the crop is going to get a couple of very good drinks prior to pollination.  U.S. weather remains all the talk... Below are some additional thoughts regarding crop conditions. GET ALL MY DAILY AG THOUGHTS HERE.....    

Corn Conditions: The USDA slightly adjusted crop-conditions lower by -1% to 67% rated "Good-to-Excellent". From my perspective, I see the "Worse Than" group being much more impactful than the "Better Than" group. Hence even more reason to believe the U.S. yield needs to be worked lower. Below are this years conditions compared to last year:

State Conditions "Better Than" Last Year

·  Pennsylvania +18% better than last year...+2% this week to 84% GD/EX 

·  Kentucky +16% better than last year... +3% this week to 85% GD/EX 

·  Colorado +12% better than last year... +10 this week to 93% GD/EX

·  Tennessee +5% better than last year... +0% this week to 83% GD/EX

·  Texas +2% better than last year... -3% this week to 76% GD/EX

·  Nebraska +1% better than last year... -1% this week to 78% GD/EX

·  North Carolina +1% better than last year... -2% this week to 75% GD/EX

·  Michigan same as last year... -1% this week to 69% GD/EX

·  Minnesota same as last year... +1% this week to 78% GD/EX

State Conditions "Worse Than" Last Year 

·  Indiana -29% worse than last year... -2 this week to 44% GD/EX

·  North Dakota -28% worse than last year... -9% this week to 58% GD/EX 

·  South Dakota -27% worse than last year... -17% this week to 45% GD/EX

·  Illinois -17% worse than last year -1% this week to 58% GD/EX

·  Ohio -15% worse than last year... +1% this week to 50% GD/EX

·  Wisconsin -15% worse than last year... +2% this week to 70% GD/EX

·  Missouri -13% worse than last year... +0% this week to 59% GD/EX

·  Kansas -5% worse than last year... +4% this week to 65% GD/EX 

·  Iowa -3% worse than last year... +0% this week to 77%GD/EX

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