USDA link:
https://release.nass.usda.gov/reports/prog2623.txt
Beans and Spring Wheat did not improve a bit as the market expected.
However, the upcoming beneficial weather WILL cause the crops to improve thru the first half of July.
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U.S. #corn conditions rose 1 pt (good/excellent) as expected, though #soybeans and spring #wheat declined. Winter wheat harvest is still slower than expectations at 37% complete as of Sunday.
Conditions for #soybeans fell 1 pt (against expectation for a 1pt rise). Trending upward in the heavy-hitting I-states after rain. But declines in the outer parts of the main Ag Belt, including Ohio, Nebraska and North Dakota. Wisconsin beans needing rain.
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U.S. #corn conditions rise 1 pt on the week to 51% good/excellent. Big improvement in Illinois (though 36% is still low), but trending the right direction, along with Iowa & Indiana. Nebraska slipped below 50% GE.
Much more to come
The area of the Midwest with extreme moisture deficits has been shrinking a great deal over the past week.
Soilmoisture anomaly:
These maps sometimes take a day to catch up to incorporate the latest data(the bottom map is only updated once a week).
https://www.cpc.ncep.noaa.gov/products/Soilmst_Monitoring/US/Soilmst/Soilmst.shtml#
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Updated daily below:
https://mrcc.purdue.edu/cliwatch/watch.htm#curMonths
https://droughtmonitor.unl.edu/
Last week, June 29, 2023
Drought in the West was mostly wiped out earlier this year.
Huge expansion of drought in the Midwest recently is SHRINKING and this will show up below, the next few weeks.
Drought monitor previous years: You can see the natural La Niña, (cold water-in the tropical Pacific)causing the drought! Starting in 2020, then worsening for 2+ years!
Important ongoing discussions related to crop conditions for pricing:
Corn soy divergence
16 responses
Started by coffeeclotch - June 30, 2023, 7:53 p.m.
https://www.marketforum.com/forum/topic/96891/
USDA June 30, 2023
8 responses |
Started by metmike - June 29, 2023, 2:28 p.m.
https://www.marketforum.com/forum/topic/96833/
Crop conditions+more 6-26-23
33 responses |
Started by metmike - June 26, 2023, 12:36 p.m.
You can go here to get animations of the weekly drought monitor.
https://droughtmonitor.unl.edu/Maps/Animations.aspx
This one is for 2023:
https://droughtmonitor.unl.edu/data/gif/2023.gif
Check this one out for the last 23 years!
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Significant improvement rarely happens according to the seasonal conditions Guess we're just gonna have to deal with it
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Commodity Trading Boom Below is a chart of the world's top trading houses net income in *billions* of dollars Wild
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We don't make these statistics public very often, but it's worth noting that there is significant demand for grain market intelligence these days The Twitter views are telling
Happy fourth Mike... How have forecasts trended past 24 hours
Thanks CC!
Not much change. Weather still looks pretty bearish. Rains in the N.Plains upper Midwest will be a bit skinny.
2 weeks below for the GEFS
7 Day Total precipitation below:
http://www.wpc.ncep.noaa.govcdx /qpf/p168i.gif?1530796126
The latest model runs have me very concerned at how expansive the heat dome from the Southwest to southern plains becomes as week 2 progresses.
the below normal temps from the NWS week 2 forecasts seems to be missing the amount of heat coming up that spreads with time.
this could become bullish at some point.
Over 7 inches rain last week on our farm WC Illinois !
