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Aug 30, 2021

Hurricane Ida Hits the Delta

Corn in the lower Delta has been mostly harvested

Hurricane Ida Hits The Delta

  • Hurricane Ida was a dangerous Category 4 hurricane and is slowing its forward progress across SE Louisiana/Mississippi producing 9 to 14 inches of rain

  • Not many crops are produced in southeastern Louisiana where the strongest wind, greatest storm surge and heaviest rain is expected

  • Damage to crops farther north will likely be greatest in Mississippi and perhaps a few extreme northeastern Louisiana production areas

  • Corn in the lower Delta has been mostly harvested. Corn in the northeastern part of the Delta could be lodged, but wind speeds are expected to be low enough to restrict damaged

  • Soybeans may be damaged in low-lying areas where flood water will be a problem

  • Cotton lodging is possible in southern most production areas, and cotton could be strung out of bolls, but bolls that are open are not fully open

FBN’s Take On What It Means: Remnants of Ida will bring heavy rain to parts of Tennessee, southeastern Kentucky, the southern Appalachian Mountains and a few interior southeastern US locations, but crop damage is less likely in those areas and rainfall may be beneficial for areas that were mostly missed last week.

FBN
FBN

Statistics Canada Issues Initial Production Outlook

  • Wheat production is seen at 22.9 million tonnes, down from 35.2 million last year or 35%

  • Of the total wheat, durum production is seen at a slim 4 million tonnes, down from 6.6 million last year

  • Spring wheat production is forecast at 16 million tonnes or a cut of 38% versus a year ago

  • Barley production is forecast at 7.8 million tonnes, down nearly three million versus 2020’s harvest

  • Canola production is forecast at 14.7 million tonnes, down from 19.5 million last year and 19.9 million in 2019

  • Pea production is seen at 2.6 million tonnes versus 4.6 million last year

  • Lentil production is forecast at 2.0 million tonnes versus 2.9 million a year ago

  • Oat production is forecast at 3.1 million tonnes, down 33% versus 2020

  • Soybean production is forecast at 5.8 million tonnes, down 8% from last year

FBN’s Take On What It Means: Production totals came in near the average market expectation for several crops. The report had no big surprises, but did underscore the tight production situation we are facing this crop year. The report was not necessarily bullish or bearish but again, is further confirmation of the small harvests we have this year.

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Kevin McNew

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Magazine

Marketwatch: Dec, 03

cmdty National Corn Price Idx: ZCPAUS.CM

open: 5.6309
high: 5.6797
low: 5.6159
close: 5.6309

cmdty National Soybean Price Idx: ZSPAUS.CM

open: 11.9852
high: 12.1581
low: 11.9477
close: 12.111

cmdty National Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 8.119
high: 8.2535
low: 8.054
close: 8.2002

cmdty National Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 7.5939
high: 7.7096
low: 7.5239
close: 7.6525