Corn Crop Conditions Holding
After a hotter-than-usual summer and steadily declining crop conditions, the U.S. Department of Agriculture reports virtually no change from last week’s conditions. Currently, 49% of Iowa’s corn crops are in poor-very poor condition, with 37% of the soybeans in the poor-very poor category.
Even though most of Iowa has received some rain over the past two weeks, traders are still expecting a short crop yield this year, saying the up to half an inch of rain received recently is far too little, too late to rescue Iowa’s struggling corn and soybeans. The state is at least 6-8 inches short of normal rainfall this year and nearly 80% of the corn crop is in at least drought stage. With these numbers, at this point in the season, weather is quickly becoming a non-factor.
As a result of the poor crop conditions, crop yields will be exceptionally low, and the projected price is nearly twice the estimate at planting time in April. These record high prices will have long-reaching effects on food prices into the next year.
While the predictions are grim and the comparisons to the devastation in 1988 are plentiful, there are many advances in seed genetics that are in use today that weren’t available back then, keeping some growers at least a little hopeful for better-than-predicted crop yield.
If you have questions about hybrid seed or other crop treatments, please contact your local Asmus Farm Supply consultant.