Usda monthly corn stalks estimates mirror 2016-98 marketing year

How'd your corn and soybeans yield last year? The answer to that question might also be a look forward to this year's crop output, one marketing specialist says. The parallels between the crop season and the crop season are striking, says Iowa State University grain marketing specialist and economist Chad Hart.

The early-season concern about delayed planting and crop progress is fading under steady doses of sunshine and timely rains.

And with crop conditions holding, crop production is up and prices have worked their way down," Hart says in a university report. Hart says long-range weather forecasts point to a continuation for the rest of the growing season of the relatively mild weather conditions most of the Midwest has enjoyed. That means another year of large supplies. Where will all that corn and soybean go?

One market is livestock feed. Hart says the livestock industry continues to work through financial difficulties.

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Another traditional market is biofuels. Biofuel data from the first few months of show the ethanol industry is continuing to grow, just at a slower rate than before, while biodiesel production is behind last year's pace," Hart said. Exports have been the bright spot. Hart said soybean exports from the crop are on record pace, and U.

Department of Agriculture's projections for the crop point to higher corn and strong soybean exports. While demand has been weakening, lower crop prices could help spur a reversal in that trend.

But for now, Hart says the markets will concentrate on the supply picture, with the overall economic situation providing some secondary shifts. Seasonal pricing patterns also have returned to the crop markets.

Current weather and crop patterns are supporting these seasonal trends," he says. The best pre-harvest marketing opportunities have likely passed, Hart adds. The mid-September USDA reports confirmed large corn and soybean crops, but also provided signs of demand strength. These continuing signs of demand strength will be critical to maintaining prices," he says. Hart's outlook for higher prices is supported by positive signs in the general economy.

And for soybeans, early export sales on the crop have exceeded the pace set in previous years. Skip to main content.

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This year's corn, soybean crops will mirror '08, specialist says

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