Yesterday’s mid-day weather models added light rains for the I-States, but confidence is low and there is little agreement from other models. There is agreement that temperatures will be above normal for the majority of crop areas from Canada to the Gulf Coast.
The nation’s corn crop condition declined 6% last week to 55% good or excellent. That was 3% worse than the market expected, the lowest for this week since 1992 and the lowest for any week of any year since 2012. Illinois’ corn declined 12% to just 36% good or excellent. Only Michigan has a lower rated crop than Illinois. The corn garden states are Colorado and Texas. You will have to live a very long time to see that again.
NOTE: late May and June of 1992 were very dry, but the rains came in July and the 1992 corn crop set a record high yield. The rains stopped the last half of June in 2012 and did not return until very late in July.
The nation’s soybean crop lost 5% out of the good to excellent categories to be rated at 54%.