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September 25, 2018 | Grain Hedge Insights | Kevin McNew | Views: 408

Corn & Soybean Crop Maturing Faster than Average

USDA Crop Progress report pegged corn maturity across the US at 72%, an increase of 18% from last week

Corn and Soybean Crop Maturing Faster Than Average, Harvest Makes Good Progress

The USDA Crop Progress report pegged corn maturity across the US at 72%, an increase of 18% from last week and well above the five-year average of 53%. Soybeans were reported at 71% dropping leaves, compared to the five-year average of 57%. Corn harvest is 16% complete, up 7% from last week and 5% from the five-year average. Illinois, Indiana, and Kentucky are making excellent progress so far. Soybeans are pegged at 14% harvested, an increase of 8% from last week. Illinois, Indiana, and the Dakotas all showed good harvest progress.

Export Sales Announcement

Private exporters reported to the U.S. Department of Agriculture export sales of 239,630 metric tons of corn for delivery to Mexico during the 2018/2019 marketing year.

Stricter Export Quality Checks and Stronger Rouble Dampen Russian Grain Exports

Following poor weather during the Russian wheat harvest in late August to mid-September, a Russian grain watchdog agency has implemented tougher quality checks for grain bound for export. The group, Rosselkhoznadzor, wishes to ensure that only the highest quality grain is shipped to large trading partners such as Vietnam, Egypt, and Indonesia. This comes as a response to increased complaints of pests being found in shipments of Russian grain. Furthermore, the Russian rouble has risen to its highest level against the US dollar in six weeks. As a result, Black Sea wheat has increased by $5 to $220 per metric tonnne.

Thunderstorms Forecast For E Iowa, W Illinois Today, More Rain In East and Mid-South

The National Weather Service is forecasting severe thunderstorms over E Iowa and W Illinois today. High winds of up to 70 mph and large hail remain possible, and even tornadoes. Areas in low-lying areas near creeks and streams are also at risk of flooding as nearly six times the normal precipitation has fallen in the past week. Several inches of rain are also in the forecast further to the east along the Ohio River Valley, falling over S Indiana, S Ohio, Kentucky, and Tennessee.


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