Grain Futures: As of 4:00 p.m. on Oct. 1, corn, soybean, and wheat futures were all higher compared to the week before.
Corn for December 2015 was $3.8875/bushel, up from $3.815/bushel the week before. The March 2016 corn price firmed to $3.9975/bushel from the prior week’s $3.9275/bushel, while trading of December 2016 corn contracts checked in at $4.1075/bushel, up from $4.045/bushel the week before.
The November 2015 soybean price was $8.7725/bushel, up from $8.68/bushel the week before, while soybeans for January 2016 firmed to $8.8075/bushel from the previous week’s $8.725/bushel. Soybeans for November 2016 were posted at $8.835/bushel, up from $8.755/bushel at last report.
Wheat for December 2015 was $5.1825/bushel, up from the prior week’s $4.9725/bushel. July 2016 wheat firmed to $5.2975/bushel from $5.12/bushel at last report, while July 2017 wheat contracts traded at $5.3825/bushel, up from $5.255/bushel the week before.
Eastern Cornbelt: Ideal weather conditions allowed growers in the Eastern Cornbelt to move rapidly on the corn and soybean harvests in late September.
The Illinois corn harvest jumped to 30 percent complete by Sept. 27, up 17 percentage points from the previous week, while progress in Indiana and Ohio also surged ahead to 18 percent and 10 percent complete, respectively. The region’s soybean harvest advanced to 23-25 percent complete by Sept. 27, up a full 20 percent from the week before.
Crop conditions were generally unchanged, with good or excellent ratings assigned to 55 percent of Illinois’ corn and soybean acreage last week, compared with 47-49 percent in Indiana and Ohio.
Winter wheat planting was also advancing rapidly in the region, with progress rated at 35 percent complete in Illinois and 12-13 percent in Indiana and Ohio by Sept. 27.
Western Cornbelt: Although a series of storms produced scattered rainfall in Iowa early in the week, much of the Western Cornbelt enjoyed ideal harvest conditions as September transitioned to October.
The corn harvest jumped to 46 percent complete in Missouri by Sept. 27, with Iowa and Nebraska trailing at 5 percent and 10 percent, respectively. The soybean harvest was 13 percent complete in Nebraska by that date, compared with 7-8 percent in Iowa and Missouri.
USDA assigned good or excellent ratings to 74-80 percent of the corn and soybeans in Iowa and Nebraska last week, with Nebraska’ sorghum crop also rated at 74 percent good or excellent. Missouri’s crop quality continued to show signs of weather stress, however, with good or excellent ratings assigned to 36 percent of the state’s soybeans, 42 percent of the cotton, 48 percent of the rice, 47 percent of the sorghum, and 54 percent of the corn.
California: Although exceptional drought conditions continued to grip most of central California, mid-September rains helped ease drought pressure in the state’s southern areas. Significant rainfall was supplied by former Hurricane Linda on Sept. 15, with southern coastal areas collecting the heaviest totals.
California growers had 35 percent of the rice harvested by Sept. 27, and cotton ratings in the state continued to place fully 90 percent of the acreage in the good or excellent categories last week.
Pacific Northwest: Warm, dry weather in late September allowed growers to move rapidly on a number of field activities in the Pacific Northwest, including winter wheat planting and the harvest of a range of vegetable crops.
USDA reported that fully 69 percent of the Montana winter wheat crop was seeded by Sept. 27, compared with 59 percent in Washington, 35 percent in Idaho, and 21 percent in Oregon. The regional potato harvest had progress