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USDA Chart

USDA Throws Corn a Curve Ball

Divide Between USDA, Trade Yield Estimates Mostly Due to Different Methodologies

In a ballgame eerily similar to last year, USDA threw a curve ball at the corn market Thursday. But unlike last August when the bulls were able to hit that bearish offering and close higher, this year they clearly swung and missed.

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Late Application of Nitrogen

Late season nitrogen application

Corn N ChartLate season nitrogen application has been a hot topic amongst farmers and uptake in this practice has increased in recent years. The expense and environmental impact has made growers think differently about nitrogen application.

Weather extremes has also caused growers to change the way they apply nitrogen to mitigate loses from excessive rainfall when applying all their nitrogen ahead of planting. Read more

CBOT building

CBOT weekly outlook: Weather watching trade in summertime

Corn and soybean futures at the Chicago Board of Trade are hanging in a seasonal weather-based market, with traders watching crop conditions week-to-week.

Corn

Corn futures have downside potential, gathering influence from wheat futures and crop ratings in the near term.

“I’m looking for an improvement in crop ratings next week, which might put a little light pressure on corn,” said Terry Reilly of Futures International.

The market had a support level at $3.7125, he added (all figures US$). Prices broke below that level on Wednesday.

Spreading between wheat and corn markets has also kept CBOT corn from rallying over the past several sessions, Reilly said. Read more

Photo of soybean seedlings trying to break through soil crusted-over

OMAFRA Field Crop Report – June 8, 2017

Cereals

Current weather conditions are ideal for fusarium head blight development in winter wheat. Many wheat fields in Southwestern Ontario have applied a T3 fungicide to reduce their risk particularly if they are growing a FHB susceptible variety. T3 fungicide applications further east will begin this week and continuing into next week for Eastern Ontario. Read more

wheat plant closeup photo

Ontario field crop report

June 1, 2017

Cereals

Winter wheat growth stages are relatively normal at this point in the season; the crop may have looked a bit ahead in weeks past but conditions have been relatively cool. Wheat is in head throughout Southwestern Ontario and beginning to head in western/central Ontario.

Some winter wheat fields are looking yellow, even where nitrogen and sulphur have been applied. It is expected that in most cases there is still nitrogen available, but that wheat fields are under stress from sitting in wet conditions for an extended period of time. Leaching below the root zone can occur, especially on light soils, with significant precipitation. Transpiration by the wheat crop, however, has helped reduce downward water (and nitrate) movement. Significant nitrogen leaching is not expected to have occurred in most wheat fields. Read more

US Corn Crop Rating Chart

First corn crop rating vs. trend yields

To great anticipation, the USDA released its first weekly crop condition report for U.S. corn this week.

Ample precipitation this spring along with cooler than normal temperatures has made corn plantings a challenge this season, especially in the Missouri Valley and Eastern Corn Belt regions. This had raised questions about how the USDA would assess the crop in its initial crop ratings report. Read more

soybean and wheat field photo

Corn, soybeans: when to start paying attention to crop condition ratings?

The USDA will report crop condition ratings for the 2017 U.S corn and soybean crops in the 18 major producing states in the weekly Crop Progress report beginning May 30 and continuing until harvest.

Weekly crop condition ratings have been made for all the major producing states since 1986. Market participants typically follow the crop condition ratings closely as an indication of crop health, yield potential, and change in yield potential as the growing season proceeds. Read more

Photo of corn harvesting

Corn: historical grain yields for the U.S.

Historical grain yields provide us with a glimpse of yields yet to come, although like the stock markets, past performance is no guarantee of the future. The historical yield data for corn in the U.S. illustrate the positive impact of improved crop genetics and crop production technologies.

From 1866, the first year USDA began to publish corn yield estimates, through about 1936, yields of open-pollinated corn varieties in the U.S. remained fairly stagnant and averaged about 26 bu/ac (1.6 MT/ha) throughout that 70-year period. Amazingly, the historical data indicate there was no appreciable change in productivity during that entire time period (Fig. 1), even though farmers’ seed-saving practices represented a form of Read more

corn seedling

OMAFRA field crop report: May 25, 2017

Winter Wheat

Winter wheat is progressing well across the province. The winter wheat is mainly at early flag leaf (Zadok’s 37) to the swollen boot stage (Zadok’s 45-47), and some heading has been observed in Essex County. Disease pressure across the province is currently low, and fungicide applications are expected to start in the next week. Cereal leaf beetle is present, but Read more

Corn field photo

U.S. corn yield limited if conditions land below 70 percent

Corn market participants often dismiss U.S. crop condition scores as meaningless, especially this early in the season. While they are still highly subject to change, the initial rating sets the tone for the growing season and can even cap yield potential – but do not expect a change to production outlooks just yet.

On Tuesday at 2 p.m. EDT (1800 GMT), the U.S. Department of Agriculture will issue the initial condition ratings of the domestic corn crop in its weekly crop progress report. The corn market typically focuses on the percentage of corn sitting in the “good” or “excellent” category, which is determined by an extensive network of observers who are surveyed Read more