United States Crop Report - July 27, 2012
The drought continues to broaden across the US growing regions. At this point in the 2012 crop growing season, farmers have accepted the fact that any corn yield at all will be welcomed. Normally discussions would involve whether or not yields would be 150 bu or 200 bu corn but this year the question growers ask each other is are you going to get 50bu corn or zero bushel corn. 30% of the corn crop overall still appears to be doing quite well but will most likely result in enough volume to overcome the other struggling 70%.
Soybeans continue to cling to life and provide hope. Blooming is storong and pods are starting to grow. Some are filling and some are aborting but the timing of the short rains is literally just in time every time. Rains have started becoming a bit heavier in the pop up showers. Southern IL and Indiana are still very dry but as of late have seen some fairly good rains with a 3 week total near 2 inches in spots. Areas of western Ohio and Eastern Indiana are also receiving beneficial rains. Illinois, Missouri and west are dry. The USDA has rated the "good to excellent" portion of the soybean crop to 17% currently (Seventeen percent...not a typo). By comparison, the five year USDA average for "good to excellent" soybeans is just over 64%. Keep in mind this takes into account for all soybeans grown in the US. Many of Hurons US non-gmo growers seem to be optimistic and in touring the fields I would have to agree that most of our non-gmo beans have a chance of a near average yield currently so we remain hopeful for the 2012 non-gmo crop for the sake of our growers and our customers.
Although Huron Commodities Inc. makes every reasonable effort to ensure that all data presented is accurate and up to date, it is provided for information purposes only and no guarantees are made of its accuracy.