Good looking crops almost everywhere despite dry conditions. 2nd cutting alfalfa is slow to grow after the 1st cutting due to lack of rain. Post-emerge corn herbicide application is complete. Bean spraying is underway with good progress. No unusual pest problems at this time.
Grain markets tanked after mid-May. Spec funds were very long by mid-May but quickly unloaded positions after the China meetings. Weather is now the main story for the next 30-60 days. Corn prices neared harvest lows before staging a small recovery. Bean prices remain in the upper end of the post-harvest range although now well under the high. The current bid is at the 75% percentile of the post-harvest range. Corn is at the 30% percentile of the range.
Land auction activity is resuming. Sale results have been stead with values seen last winter. We expect average sale volume for the balance of the summer.
Please click on the button to the right to view the past Crop Conditions reports.
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