07-17-2013 08:41 AM
Struck me as a thought provoking chart
US corn conditions began to decline during the week ending July 14 (see red line, above) due to short-term dryness in the southwestern Corn Belt. Nearly one-quarter (22%) of the corn in Kansas was rated very poor to poor on July 14, up from 14% the previous week. Still, this year’s national corn condition (66% good to excellent in mid-July) represents a dramatic improvement from this time last year (31%), when the final U.S. corn yield of 123.4 bushels per acre was the lowest since 1995.
07-17-2013 08:55 AM
07-17-2013 09:07 AM
Looks like 2013 is starting to track 2011 conditions, it doesn`t look like any of the years "improve" this late in the season. So, to be generous split the difference between the 2011 and 2010 yields of 150b/a X 85 million harvested acres and the crop gets no better than 12.75 billion until proven otherwise. The thing is, if we will be in "pipeline" at the end of August, some of the "new crop" will have to be sucked into 2012`s production to get the hogs, chickens and ethanol over the finishline.
07-17-2013 09:18 AM
could not have said it more eloquently or succintly, Chase.
This year, in particular, NASS weekly crop conditions enumerate very little reality about the actual condition(s) of Corn. Disregarding the time vector irradicates the credibility of ratings to virtually nill.
07-17-2013 10:32 AM
07-17-2013 10:55 AM