Crop Ratings Slightly Lower
- Corn crop ratings slipped to 61% good to excellent compared with 62% last week and 55% last year.
- The corn crop was reported at 25% mature, ahead of the 19% average.
- Soybean condition ratings were 65% good to excellent, slightly lower than 66% last week, but above 55% last year.
- 20% of soybean plants were dropping leaves, ahead of the 16% average, with Iowa at 19% vs 6% average.
- Spring wheat harvest at 82% complete has nearly caught up with the 87% average.
- Winter wheat planting is just getting underway and was 5% complete versus the 3% average.
- Upland cotton crop conditions improved to 45% good to excellent, slightly higher than 44% last week, and 43% last year.
FBN’s Take On What It Means: Rains that fell late last weekend weren’t in time to help ratings this week, and the western half of Iowa is still short of rainfall. However, expect ratings to finally show some improvement next week after this week’s rain and cooler temperatures. Harvest is gaining speed in the Delta after a slower than usual start following the recent hurricane, and crops are being pushed into maturity in the western Corn Belt due to warm, dry conditions in August.
Argentina Wheat Receives Needed Rain
- Rains over the last 10 days have helped revive Argentina's drought-hit wheat crop and improve prospects for corn planting later this month.
- Spring in this part of South America is usually rainy, and showers are in the forecast.
- Argentina has planted 6.5 million hectares (16.1 million acres) with wheat, to be harvested in December and January.
- Last year the country harvested 18.8 million tonnes of wheat from a planted area of 6.6 million hectares.
- The situation remains difficult for wheat flowering in Cordoba and western Santa Fe provinces which are dry and have missed recent rains.
- Last week, crop ratings declined to 17% good to excellent from 18% and 42% fair down from 44% in the previous week.
FBN’s Take On What It Means: Much needed rain fell in the northeast half of Buenos Aires, Santa Fe and Entre Rios. The rain was sufficient to recharge the topsoil with enough moisture to stimulate improved wheat conditions and stabilize falling crop ratings. The precipitation also raised soil moisture for future corn planting, although more will be needed before planting begins. However, western Argentina failed to get enough rain to ease long term dryness and that region will have to wait for meaningful rain to evolve. The potential for more widespread and significant rain during the next week will be monitored during the next several days.
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