July 22, 2014
Producer Marketing Manager
CORN: As of 7:45 – UP 1
Crop conditions out yesterday were unchanged from last week on a nationwide level (76%), however SD dropped 4 percentage points in the Good/Excellent category on the need for moisture in certain areas. With the heat we have seen these past two days and lack of precip in those areas, I expect the SD rating to drop a touch again on Monday.
SOYBEANS: As of 7:45 – Nearby Up 13, NC Up 4
Similar to corn, SD ratings dropped 2% while the nationwide rating improved 1 percentage point over last week. Early yesterday morning, USDA announced the old crop bean sale to China, which is likely a switch from Brazil to the US and will load in the last few days of Aug. This got the August futures into positive territory while the November continued to struggle.
WHEAT: As of 7:45 – MPLS Up 5, KC Up 7
4% of the HRW crop is reportedly harvested in SD, well behind average. The recent temps should push us to maturity and getting things rolling in a big way. The HRS crop tour begins today in ND. 6-10 day precip chances are below normal for much of the Dakotas which should help on Harvest efforts.
The information contained above was taken from sources which Wheat Growers believe to be reliable, but is not guaranteed by Wheat Growers as to accuracy or completeness and is made available for information purposes only. There is a risk of loss when trading commodity futures and options.