By Jon Scheve, Superior Feed Ingredients, LLC
The corn market finished last week on the lows. The estimated 2020 corn yields are increasing every day, while many farmers still sit on unsold 2019 corn. Time is running out to get old crop sold and moved before harvest starts.
A change in price direction due to weather is unlikely right now. National yield estimates are above 180 and the latest drought index shows only 18% of the Corn Belt is facing drought conditions.
Western Iowa is currently experiencing dry conditions. However, keep in mind that western Iowa also has some of the best subsoil moisture capacity in the U.S. too.
So, while there may be drier conditions in western Iowa, yields may not be as bad as some believe in that area. Plus, I’m hearing preliminary yield reports ranging between “very good” and “potentially record good” on the fringes of the Corn Belt.… Continue readingRead More »