Grain Futures: As of 4:00 p.m. on Nov. 5, corn, soybean, and wheat futures were all lower compared to the week before.
December 2015 corn was posted at $3.745/bushel, down from $3.80/bushel, and corn for March 2016 slipped to $3.8275/bushel from the prior week’s $3.8975/bushel. Contracts for December 2016 corn were $4.0225/bushel, also down from $4.065/bushel the week before.
Soybean prices for January 2016 were $8.64/bushel, down from $8.8025/bushel at last report. March 2016 soybeans were $8.6625/bushel, and November 2016 soybeans were $8.74/bushel, down from $8.845/bushel the week before.
December 2015 wheat punched in at $4.86/bushel, down from $4.8825/bushel one week earlier, while July 2016 wheat contracts slipped to $5.2175/bushel from the previous week’s $5.2475/bushel. Wheat for July 2017 was $5.73/bushel, down from $5.74/bushel the week before.
Eastern Cornbelt: Most of the Eastern Cornbelt enjoyed favorable harvest weather in early November, with highs in the 70s reported across the northern tier of Illinois, Indiana, and Ohio.
The corn harvest had progressed to 88 percent complete in Ohio by Nov. 1, up nearly 30 percentage points from the week before. Corn growers in Illinois and Indiana had 92-96 percent of the crop in the bin by Nov. 1, while the regional soybean harvest stood at 96 percent complete by that date.
Regional growers also had 89-95 percent of the winter wheat crop seeded by Nov. 1.
Western Cornbelt: Forecasts called for the possibility of severe weather in Iowa and Missouri as the week progressed, with high winds, rain, and hail likely in parts of both states. A half-inch of rain was expected in Iowa east of Interstate 35, with temperatures down in the 50s.
Although some fieldwork delays were likely as a result of the precipitation, most of the region’s harvest activity was nearly complete by last week. USDA reported that 97 percent of Missouri’s corn was in the bin by Nov. 1, along with 85 percent of Iowa’s crop and 75 percent in Nebraska. The soybean harvest was fully 96-97 percent complete in Iowa and Nebraska by that date, compared with 80 percent in Missouri.
Missouri growers also had 72 percent of the cotton crop in the bin, up 12 percent from the week before. The regional sorghum harvest was 81 percent complete in Missouri and 70 percent complete in Nebraska by Nov. 1.
Southern Plains: Strong storms were expected late in the week in parts of Texas, Oklahoma, and southeastern Kansas. Tornado and flash flood watches were in effect on Nov. 5 for central and northern Texas, and also for central and eastern Oklahoma.
Harvest activities continued in the Southern Plains last week. Kansas growers had 94 percent of the corn and 84 percent of the soybeans in the bin by Nov. 1, with the corn harvest rated at 84 percent complete in Texas and 45 percent in Colorado by that date.
The grain sorghum harvest was tracking ahead of normal in the region last week, with progress rated at 35 percent complete in New Mexico, 55 percent in Colorado, 77 percent in Kansas, and 81-83 percent in Oklahoma and Texas. “Grain sorghum is still coming in, but it is easily 75 percent harvested and what is in the field may need a frost to kill the plant and bring down the grain moisture,” said one Kansas source.
The regional cotton harvest was 40 percent complete in Texas, 39 percent in Oklahoma, and 20 percent in Kansas, with good or excellent ratings assigned to 61 percent of the acreage in Kansas and Oklahoma, compared with just 38 percent in Texas.
South Central: Parts of the South Central region were bracing for strong storms as the week progressed. Winds of up to 60-70 mph were in the