Commodity traders are following the July Crop Tour with high interest, says Matt Guth, a futures and options specialist with RCM asset management in Chicago. Guth and colleague Frank DiVito were helping sample crops at today’s late morning stop in Sangamon County, Illinois. They’ve been on tour since Monday’s start in Ohio.
At the stop here corn was estimated to be headed to a yield of about 170 bu/ac, above the country average of 165 bu/ac. The soils are a rich loess, well-drained type.
Soybeans appeared relatively well developed with abundant flowers and pods, and generally disease free.
“We’re here to try to get a better picture of the crops,” Guth told Agriculture.com. “And we’ve been seeing a lot of fields that are completely dried up. We’ve seen fields in Champaign and McLean Counties that are close to 130, 140 bushels. This is leading us to believe there will have to be a drop in the USDA estimates coming closer to harvest.”
Guth believes the crops may still spring a surprise. “We expected to see a lot of this,” he said. “However, we’ve been surprised at how resilient the soybeans look. So there appears to be the possibility of a strong upside to that crop yet this year.”