Another Crop Rally Coming?

Nor' east Thinkin'

...

Published on: September 5, 2008

Hurricane Hanna may be heading up the East Coast. But any deluge will be too late to help most crops crying “Water! Please! Water!”

 

In early August, I suggested that we’d get a September surprise with USDA’s upcoming crop report. I suggested that corn and soybean yields might higher than August’s report. That was before the August rains – the ones that didn’t fall.

 

Except for one good rain, Pennsylvania, Maryland and Delaware were staring at a record low rainfall for August. That’s why I’ve never seen corn turn and dry down so fast in two weeks.

 

Crop observers in the northern Corn Belt were also talking about dry August weather.

 

 All bets are off on bigger corn and soybean crops now. And that may mean another market rally. So buckle down or buy ahead!

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  1. W. Joseph says:

    I just came back from a family trip traveling to Cedar Rapids and north about 100 miles.  The corn is showing severe nitrogen deficiency.  Small seams of dark green cause the pale green to stand out on 80%+ of the balance of most fields.  The corn is weeks away from maturity and we're getting lows in the 40's already!  Late plantings and growing degree unit drag even for our area in western Illinois makes things tight when we planted corn in early to mid May.  I worry about those folks to our west getting slapped about the time they get dried out!