Grain Futures: As of 4 p.m. on Jan. 5, corn and wheat futures traded higher compared to the previous report, but soybeans were down.
March 2017 corn was posted at $3.6125/bushel, up from $3.4725/bushel, and corn for May 2017 was $3.675/bushel, an increase from $3.54/bushel in late December. Contracts for December 2017 were $3.885/bushel, up from $3.7825/bushel the week before.
Soybean prices for March 2017 were $10.125/bushel, down from $10.17/bushel the previous week. May 2017 soybeans were $10.21/bushel and November 2017 soybeans were $9.9625/bushel, a slight decrease from the prior week’s $9.975/bushel.
March 2017 wheat checked in at $4.345/bushel, up from $4.0925/bushel, while May 2017 wheat contracts traded at $4.46/bushel, above the prior week’s $4.2075/bushel. Wheat for July 2017 was $4.57/bushel, up from $4.325/bushel at last report.
Eastern Cornbelt: The new year got off to a wintry start for much of the Eastern Cornbelt. Light snowfall was reported across southern Illinois and southern Indiana as the week progressed, while lake-effect snow totals were expected to be slightly higher in central and southern Ohio. Wind chills down in the single digits were reported in northern Ohio at midweek.
Western Cornbelt: Winter weather conditions were reported across much of the Western Cornbelt during the first week of 2017.
Freezing rain was reported across northwestern and western Iowa at midweek, with temperatures dropping to the single digits and teens as the week progressed. Nebraska was also enduring another round of cold weather, with highs barely climbing out of the single digits in western areas of the state.
A winter weather advisory was in effect at midweek for parts of Missouri, with 2-3 inches of snow expected across a wide swathe of the state, including both Kansas City and St. Louis.
Northern Plains: Winter Storm Gregory brought heavy snowfall to parts of the Northern Plains during the first days of 2017. Accumulation by midweek was reported at eight inches near Fort Thompson, S.D., 12 inches in Wilton, N.D., and up to 16 inches near Graceton, Minn.
The snow was accompanied by gusty winds and blizzard conditions in parts of the Dakotas. Similar weather was reported one week earlier, when a two-day storm over Christmas caused heavy snowfall and drifting conditions across central North Dakota.
Great Lakes: The end of 2016 brought intense cold to parts of Wisconsin, while Michigan braced for heavy snow during the first days of 2017. Forecasts called for up to 10 inches of snow in several western Michigan locations by Jan. 5, along with high winds.
Sources reported no spreading activity on frozen ground in the region last week, citing weather conditions and the post-holiday lull.
Northeast: The Northeast received a one-two punch from Winter Storms Fortis and Gregory during the last days of 2016 and the start of 2017.
Fortis brought heavy snow and gusty winds to the region on Dec. 28-30, with snowfall totals reaching 27-29 inches in parts of Maine, up to 20 inches in Bartlett, N.H., more than 12 inches in parts of northern Pennsylvania and western New York, and just under a foot in Fitchburg, Mass., and Westfield, Vt.
Gregory arrived right on the heels of Fortis, bringing freezing rain to a large swathe of Maine, Massachusetts, New York, and northern Pennsylvania on Jan. 1-2.
One Pennsylvania source said the arrival of cold weather raised the possibility of some dry spreading activity on frozen ground, but the pace was still slow last week. The same source also reported a very slow year-end buying season at the retail level, with growers pinching pennies after drought-reduced yields and low crop prices in 2016.