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September 12, 2018 | Grain Hedge Insights | Kevin McNew | Views: 290

Corn and Soybean Conditions Improve

Corn harvest makes good progress

Corn and Soybean Conditions Improve

Soybeans and Corn Conditions Improve, Corn Harvest Makes Good Progress

For the week ending on Sep 9, the USDA reported that soybean conditions improved nationally by 2% to 68% good to excellent. Much of the soybean growing area saw good rains through the end of August and into the first week of September. The Crop Progress Report was delayed by a day due to technical errors. Corn conditions also improved slightly to 68% G/E. Iowa was reported at 73% G/E and Illinois at 77%. The USDA also reported that 31% of soybeans are dropping leaves, up from 9% last week. This is also up significantly from the 5-year average of 19%. Corn was also reported to be 35% mature, compared to the 5-year average of 21% and corn is also 5% harvested nationally.

 

U.S., Canadian Negotiators Show Signs of Progress Following Yesterday’s Meetings

Canadian Foreign Minister Chrystia Freeland met with U.S. Trade Representative Robert Lighthizer yesterday in Washington D.C., following which Freeland said the “atmosphere continues to be positive and cordial” and that a deal may be struck this week. President Trump also said that the renegotiation of NAFTA with Canada was “coming along very well”, a change from his previous tone regarding trade with Canada. Canadian Prime Minister Justin Trudeau also cautioned against any sort of tariffs on cars, which would cause a “massive disruption” in talks between the two countries.

Flood Warnings in Place In E Iowa As East Coast Prepares for Hurricane Florence

Tributaries of the Mississippi River in E Iowa continue to be at risk of flooding past their banks due to heavy rains from the weekend. The NWS has issues flood warnings in the eastern part of the state. Residents of both North and South Carolina are urged to evacuate as Hurricane Florence approaches. The storm has been declared a Category 4 hurricane and is anticipated to make landfall as early as Thursday or early Friday. Heavy rains and winds of up to 130 MPH are expected to ravage the coastal areas of the Carolinas.

 

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