Grain Futures: As of 4:00 p.m. on March 17, corn and soybean futures were higher compared to the week before, but wheat was down.
May 2016 corn was posted at $3.685/bushel, up from $3.6275/bushel, while corn for December 2016 firmed to $3.8725/bushel from $3.81/bushel the week before. Contracts for March 2017 corn were $3.96/bushel, up from $3.8975/bushel at last report.
Soybean prices for May 2016 were $8.9775/bushel, up from $8.8925/bushel the week before. November 2016 soybeans firmed to $9.0925/bushel from the previous week’s $9.0075/bushel. January 2017 soybeans were $9.135/bushel,
up from $9.0525/bushel at last report.
July 2016 wheat punched in at $4.7075/bushel, down from $4.8325/bushel the week before, while September 2016 wheat contracts slipped to $4.95/bushel from the previous week’s $5.06/bushel. Wheat for July 2017 was $5.4025/bushel, down from $5.51/bushel a week earlier.
Eastern Cornbelt: Much of the Eastern Cornbelt was wet at midweek after powerful storms hammered the region with torrential rains, large hail, and damaging winds.
The National Weather Service (NWS) said 10 tornadoes were confirmed in Illinois on March 15, while four were confirmed in Ohio one day earlier. Parts of the region were also hit with golf-ball-sized hail during the week.
Western Cornbelt: Powerful thunderstorms moved across Iowa and northeastern Missouri at midweek, producing strong winds, large hail, and at least three confirmed tornadoes. The heaviest storm activity was observed in southeastern Iowa, where 70 mph winds and three-inch hail were reported.
A Missouri source said his location received four inches of rain early in the week, stalling field activities. He said growers were hoping to be working high ground and sandy soils again by the weekend. He noted that many areas had considerable spring volumes to make up after a lackluster fall application season.
Southern Plains: Texas continued to be the scene of severe weather at mid-month. While eastern areas of the state remained flooded from torrential rains the week before, another powerful storm system brought large hail and damaging winds to the Fort Worth area on March 17.
The moisture interrupted corn and sorghum planting in parts of Texas, but other areas of the Southern Plains saw considerable fieldwork in mid-March. Kansas sources also reported some scattered corn planting last week, with one source saying corn planting should be going full throttle by the third week of March.
One Kansas source said his location saw record movement during the month of February, with most of the preplant ammonia demand winding down in the region and pasture and wheat fertilization also well advanced. USDA rated 56 percent of the Kansas winter wheat crop as good or excellent as of March 13.
South Central: Torrential rains caused widespread flooding throughout the South Central region at mid-month. The storms also produced at least three confirmed tornadoes in Arkansas on March 13, as well as tornado watches in Tennessee, while Kentucky experienced colder temperatures and gusty winds as the week progressed.
Parts of north and central Louisiana were hit with up to 24 inches of rain over several days in mid-March, while areas of southeastern Texas collected more than a foot of rainfall. One Tennessee contact said rainfall totals in his trade area ranged from 4-14 inches at mid-month, while an Arkansas source estimated 5-20 inches across the Delta region.
The moisture pushed numerous rivers from their banks, including the Sabine River, which flooded portions of Interstate 10 on the Texas-Louisiana border.
Disaster declarations were in effect for all of Louisiana and nearly 20 Texas counties due to flooding, and also for 16 Arkansas counties, where up to 14 inches of rain fell. News reports said nearly 5,000 homes in Louisiana were damaged and more than 4,200 people were evacuated in the state. Extensive flooding was also reported along the Pearl River in western and northwestern Mississippi, prompting road closures and evacuations.
The heavy rainfall stalled fieldwork in the South Central region. “We have flooding problems,” said one contact. “It will be a while before we get going again.” One source said rowcrop ground in his trade area will need at least a week of dry weather before any fieldwork begins, while spreading activity on pastures could begin sooner.
Southeast: Much of the Southeast experienced weekend rainfall followed by warm, sunny weather at mid-month. Regional sources said preplant fertilizers were “running hard” as the week progressed, but incoming weather was threatening to stall activity in some locations. “I’m just glad to see things start moving and get this season underway,” said one contact.