Tuesday, 18 June, 2019

Corn Weather Woes May Be Passed on to U.S. Livestock Farmers

USDA Fairly Aggressive on Dropping Corn Yield and Production Corn Weather Woes May Be Passed on to U.S. Livestock Farmers
Russell Knight | 13 June, 2019, 23:36

A new U.S. Department of Agriculture report shows 67 percent of Indiana's expected corn crop is now planted.

The expected production was cut in a monthly report released Tuesday by 1.4 billion bushels to 13.7 billion bushels, the lowest since 2015.

However, even as the weather has turned drier in recent days, the heretofore record or near-record slow planting pace for USA corn and soybeans is likely to reduce production totals this fall.

The outlook confirmed fears among traders that heavy rains this spring had put the corn harvest in question.

USDA left its soybean projections unchanged, at 4.150 billion bushels for harvest and 49.5 bushels per acre for yield.

The most active corn contract for July delivery closed 12 cents higher, or 2.89 percent at 4.2775 USA dollars per bushel.

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He has won a host of titles with the club including two Premier Leagues, two Europa Leagues, an FA Cup and a League Cup. It's no secret that it was my dream to play for them since I was a young boy just scoring my first goal.

CBOT wheat gained 2% to $5.17-3/4 a bushel and soybeans rose 0.4% to $8.61-1/2 a bushel.

Chicago Board of Trade (CBOT) wheat and soybeans futures closed higher on Monday, as traders had their eyes on two updated reports respectively on the latest export inspection and crop progress. -China trade dispute that has slowed American agricultural exports.

IN farmers made a lot of progress this past week in crop planting even as constant spring rains leave them far behind normal. Soybean futures also fell on Friday, under pressure from wheat and corn, traders said. The crop is typically planted after corn.

In a weekly report released on Monday, the USDA said corn planting was 83% complete, behind the average of 99%.

Traders, however, said it was hard to know the crop's true condition since only 62% has emerged, well below the average of 93%.

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