By Jon Scheve, Superior Feed Ingredients, LLC
The USDA only increased corn acres by 500,000 from the March survey. This is not real bearish news because the market has been pushing new crop corn values to levels encouraging a lot more corn acres be switched over from beans this spring. Evidently, wet weather in North Dakota and Ohio this spring prevented a lot more acres being switched to corn.
This week I drove through southern Minnesota on I-35 to Des Moines and west along I-80 to Lincoln. Iowa’s corn is at least one week behind normal, which should push pollination dates back until after July 20. This means even after the long 3-day weekend, the 2-week weather forecasts will not yet reach the critical growing time period.
Current longer-term forecasts suggest weather should be close to normal though. If this happens, the current 177 yield projected by the USDA could be achieved.… Continue readingRead More »