Grain Futures: As of 4 p.m. on Feb. 26, soybean futures were higher compared to the week before, but corn and wheat were down.
March 2015 corn was posted at $3.80/bushel, down from the previous week’s $3.8975/bushel. Corn for May 2015 slipped to $3.885/bushel from the prior week’s $3.9775/bushel, while contracts for December 2015 corn were quoted at $4.1375/bushel, down from $4.1975/bushel the week before.
Soybean prices for March 2015 were $10.24/bushel, up from $10.0725/bushel the week before, while May 2015 soybeans rose to $10.265/bushel from the prior week’s $10.1125/bushel. November 2015 soybeans firmed to $9.975/bushel from the previous week’s $9.8625/bushel.
March 2015 wheat punched in at $5.0325/bushel, down from $5.2775/bushel the week before, while May 2015 wheat contracts fell to $5.005/bushel from the previous week’s $5.195/bushel. Wheat for July 2015 was $5.0475/bushel, down from $5.2175/bushel one week earlier.
Eastern Cornbelt: The Eastern Cornbelt remained locked in winter during the final days of February. The week began with 4-6 inches of fresh snowfall in central and northern Illinois, along with freezing rain and accumulating ice in southern areas of the state.
The winter precipitation was accompanied by bitterly cold temperatures in Ohio, with wind chills falling to minus 24 in northeastern areas of the state on Feb. 23-24. The frigid cold was just the continuation of an arctic blast that started in the region on Feb. 19, with actual temperatures dropping on that date to minus 8 degrees in Chicago and minus 6 in Cincinnati.
Western Cornbelt: More snow and bitterly cold temperatures blanketed Iowa in late February. One source said his location received 6 inches at midweek, with temperatures falling to minus 10-15 degrees. Wind chills in central Iowa were reported at minus 30 on Feb. 26-27.
Another storm was expected by the weekend, with snowfall totals ranging from 2-6 inches predicted across Iowa on Feb. 28. Snow was also expected in northern Missouri, further delaying field activities in the region.
Southern Plains: Much of the Southern Plains remained in a winter weather pattern in late February. Local forecasts called for a mix of rain and snow in much of Kansas and Oklahoma by late in the week.
A winter weather advisory was issued at midweek for most of northern Texas as a mix of snow, ice, and freezing rain fell in many areas. Temperatures across the state were some 20-30 degrees below average in late February.
New Mexico was also in the grip of below-freezing temperatures last week, along with rain and snowfall in northern areas of the state.
While most in the region were lamenting the cold temperatures, many hoped for additional moisture. One Kansas source said winter precipitation has been slow and spoon fed in his area. “This all translates into needed moisture to replenish subsoil and to have some runoff to fill ponds and reservoirs,” he said.
South Central: February was drawing to a close with another round of winter weather for the South Central region. The cold weather extended all the way down to Louisiana, where local reports talked of snow in the northern counties and rain in the south.
Much of central and western Arkansas collected 2-3 inches of snow early in the week, with more reported as the week advanced. Southern Kentucky was also bracing for up to 3 inches of snow by Feb. 26, with highs only reaching the 20s. In Tennessee, some eastern and central areas of the state collected up to 4-5 inches of snow last week, with overnight lows dropping to the high teens in Nashville on Feb. 27.
The region’s coldest weather occurred on Feb. 19, when daily record lows in Kentuck