Corn, soybean crops

[kadee79]

Here is a little piece of news that will end up affecting several industries.  Might want to keep this info in mind when making investments and also keep a watch on what is happening later in the year.

Much of the nation’s corn crop is sowed by July, however according to the US Department of Agriculture in its June acreage report, released last week, 91 percent of corn has yet to germinate, compared with 100 percent during the extreme drought the same time a year ago. Planted corn acres are estimated at 97.3 million, resulting in a projected harvest of 89.1 million acres, which is only slightly behind March estimates.

The agency reports that in Iowa, the leading corn producer, farmers planted about 200,000 fewer acres than expected due to the heavy rains. Other states that have seen a decrease in planted acreage are Minnesota (300,000 acres), Wisconsin (150,000 acres), and Kansas (100,00 acres).

“It’s been kind of devastating, and it's ruined quite a bit of stuff already,” Jerry Smith, who farms 700 acres of corn, soybeans, and other crops in Somers, Wis., told the Milwaukee Journal-Sentinel Friday. “We'll probably have a week or so where we won't have any sweet corn, because we weren't able to get in and plant it.”


news.yahoo.com/drought-wettest-midwest-spring-40-years-delays-crop-221934375.html

[clarkrl2]

On my bicycle rides I pass by several corn fields and also some wheat fields. The crops in this part of Kansas look pretty good but I think a little further west they are still suffering from more severe drought conditions. Last year even the irrigated fields didn't do well due to the extreme heat. This year the temperatures have been milder.

Edit: Here is a link to the drought monitor which is tracked provided by University of Nebraska-Lincoln.

[Value Buy]

In Indiana, the corn does not tassel by the Fourth Of July.
We are happy at four feet high corn.
Right now we are probably receiving too much rain. Soybeans seem to be a little behind where they usually are by now, but it looks like the farmers here will reap very good yields this year, versus last year.
The rain seems to be rather scattered, rather than covering large areas, but all counties seem to get it off and on.

[Value Buy]

Based on trending futures prices for corn wheat and soybeans, the traders know the crop this year is good.

[Value Buy]

The futures continue to drift down for corn soybeans and wheat.
Good news for consumers this fall, as poultry beef and pork should fall in price, and producers should raise larger groups of each due to lower feed costs.
Grain farmers, if they had pre-sold their crops, are golden, locking in higher prices.

[kadee79]

Here is a little "ditty" about ADM...

Archer Daniels Midland Co , one of the world's largest agricultural trading houses, said on Tuesday that quarterly earnings fell as crop supplies tightened after the worst U.S. drought in more than half a century left harvests devastated.

ADM and rivals such as Bunge Ltd are anxiously awaiting the autumn harvests to replenish stockpiles, with U.S. farmers expected to bring in record-large corn and soy crops.

"We'll be managing through tight crop supplies until the forecast large but delayed U.S. harvest," ADM Chief Executive and Chairman Patricia Woertz said.

ADM is among the four large players known as the "ABCD" companies that dominate the flow of agricultural goods around the world. The others are Bunge, Cargill Inc and Louis Dreyfus Corp .

news.yahoo.com/tight-u-crop-supply-squeezes-adm-profits-121156361.html

Down here in the SE....we have had way too much rain!  Our normal for my area runs 23-28" for Jan/July.  This year our total was 42.69"!  Many crops were late, many had water damage, many didn't get their chemicals at the right times and many had their chemical fertilizers leach through before the plants could benefit from them.
The biggest crops in this area are cotton & peanuts.  Farmers are hollering that they can't get into the corn fields to pick & it's ready.  We have very little to no soy planted around here but some wheat north of me.  I haven't been that direction but what I've seen in sporadic fields nearby looked good....and it's been out of the fields for awhile now....harvested around the end of May or early June.

So, just some things to think about as you look at stocks or commodities.