Grain Futures: As of 4 p.m. on Nov. 13, corn, soybean, and wheat prices were all higher compared to the week before.
Corn was $3.8625/bushel for December 2014, up from $3.7125/bushel the week before. The March 2015 price for corn was $3.9875/bushel, also higher than the previous week’s $3.84/bushel, while December 2015 corn contracts checked in at $4.29/bushel, up from $4.165/bushel the week before.
The November 2014 soybean price was $10.535/bushel, up from the prior week’s $10.28/bushel. Soybeans for January 2015 were higher as well at $10.5975/bushel from the previous week’s $10.3225/bushel, while soybeans for November 2015 firmed to $10.3525/bushel, up from $10.0675/bushel at last report.
Wheat for December 2014 was $5.5375/bushel, up from the prior week’s $5.2025/bushel. Wheat for March 2015 moved up to $5.56/bushel from $5.32/bushel at last report, while July 2015 wheat contracts traded at $5.685/bushel, up from $5.46/bushel the week before.
Eastern Cornbelt: Cold weather and a wintry mix of precipitation slammed parts of the Eastern Cornbelt as the week advanced, putting a stop to fall fieldwork.
Temperatures started dropping rapidly on Nov. 11, with lows across the northern tier of all three states falling into the 30s and wind chills dipping to the low 20s. Lows were expected to dip into the teens in some areas by the weekend, and a winter weather advisory was promising 3-6 inches of snow in northern Indiana and northern Ohio on Nov. 13-14.
Michigan was also in the storm’s path, with midweek temperatures reported in the 20s and 9-10 inches of lake-effect snow possible across the state’s southern half by the weekend.
USDA reported that Illinois growers had 87-91 percent of the corn and soybeans harvested by Nov. 9. The soybean harvest in Indiana and Ohio lagged only slightly at 85-86 percent complete, while corn growers in those two states had harvested some 67-71 percent of the acreage by Nov. 9.
Western Cornbelt: News reported said temperatures fell from the 60s to the low 30s across Iowa early in the week, with wind chills dropping to below zero in northern areas of the state. The cold weather was accompanied by wind and rain, with a dusting of snow covering some northern Iowa locations by Nov. 11.
The Northern Plains fared worse, with 10-17 inches of snow reported in areas north of Minneapolis and temperatures dropping to subzero lows across North Dakota and Montana.
The winter moisture slowed the completion of harvest in the region. USDA reported that 79-86 percent of the regional corn crop was in the bin by Nov. 9, equal to or only slightly trailing the five-year average. The soybean harvest was also well advanced, with progress rated at 96-98 percent complete in Nebraska and Iowa, and 81 percent in Missouri.
California: Rains finally came to Southern and Central California in early November, but the precipitation did little to alleviate long-term drought conditions in the state. Local reports said higher elevations received up to an inch of precipitation, while coastal areas and valleys reported up to a half-inch.
Sources said more moisture was expected at mid-month. “California is still in the grips of a devastating drought, but some rain is due this week and next,” said one contact. “The storms are warm, with snow levels at the 7,000 foot level.”
Pacific Northwest: Winter arrived with a vengeance to the Pacific Northwest last week, with snowfall and sub-zero lows reported in Montana and Idaho. The powerful storm system also brought high winds and an arctic chill to areas of Washington and Oregon on Nov. 11.
Prior to that, the Pacific Northwest enjoyed what one Washington source