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Serving: United States

Midweek Markets: What are the odds for trendline yields?

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A look at how disagreeable weather has put a kink into some production plans for 2021

Trendline yields for corn have reached an aggressive 179.5 bushels per acre in 2021. Early weather disruptions could make that number a challenge to meet, but the production potential is still there.

Still, crop quality took a spill lower this past week. Corn conditions dropped three points, moving to 65% of the crop rated in good-to-excellent condition. Soybean ratings fell two points to 60% rated in good-to-excellent conditions. And spring wheat faced a much sharper drop, losing ten points to just 27% rated in good-to-excellent condition.

But weather is affecting different regions of the country at a very uneven clip. Parts of the Central and Southern Plains, along with much of the eastern Corn Belt, remain in solid shape for now. In contrast, much of the upper Midwest and Northern Plains face moderate or severe drought conditions.

In this week’s podcast, we talk not only about weather, but also ethanol production trends, export demand and much more.

Listen to Midweek Markets podcast for June 23, 2021:

 

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