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North Central Illinois | Jim, I think one of the things that a lot of people including ProFarmer failed to take into account was the rapid dry down of a big portion of the crop. While you can have decent yields with rapid dry down, rarely does it equate to really good or record yields. I still think that when the northern part of the cornbelt reallys gets rolling we are going to hear some pretty spectacular yields. The problem is that it likely won't offset some of the smaller than expected crops in other areas. We are still going to have a pretty large corn crop. Trouble is that many traders and anylysts were kind of counting on a record crop to keep carryouts at comfortable levels. While the crop could end up pretty good and far from a disaster it just might not be big enough to keep from shrinking the carryover. As far as beans are concerned, even with weather issues in South America this bean market is feeling very very overbought. The bean crop in this country has the makings of a monster. Areas with less than expected corn yields are finding some really good beans. No reason to expect anything different from northern areas. JMHO. | |
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corn crop size estimates
