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Drought puts pastures, crops in much worse condition than a year ago
Story Date: 7/11/2012
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Source: Rita Jane Gabbett, MEATINGPLACE, 7/10/12
USDA reported 50 percent of the nation’s pastures were in poor or very poor condition in the week ended July 8, compared to 43 percent a week ago and 29 percent at this time last year.
It rated just 21 percent of U.S. pastures in good or very good condition, down from 25 percent a week ago and 49 percent at this time last year.
Corn
In its weekly Crop Progress report, USDA increased its estimate of corn fields in poor or very poor condition to 30 percent from 224 percent a week before and just 9 percent this time last year. The agency reduced its estimate of cornfields in good or excellent condition to 40 percent from 48 percent a week ago and 69 percent at this time last year.
At the same time, 50 percent of the U.S. corn crop in the top producing states entered the critical “silking” stage this past week, up from 25 percent a week ago and compared to the five-year average of just 19 percent at this time of year. Dry, hot weather can inhibit the silking process, which dictates the formation of corn kernels.
Corn futures prices on the Chicago Board of Trade shot up by over 30 cents per bushel on Monday to $7.74 for July delivery and $7.29 for December delivery.
Soybeans
U.S. soybean fields are also showing signs of stress. USDA rated 27 percent of the soybean crop in major producing states in poor or very poor condition, up from 22 percent a week ago and compared to just 8 percent at this time last year.
The agency reduced its estimate of soybean fields in good or excellent condition to 40 percent from 45 percent a week ago and 66 percent at this time last year.
Soybean futures prices leapt by over 40 cents per bushel to $16.65 for July delivery and to $15.46 for November.
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