Crop Progress: Corn Harvest Is Upon Us

Includes: CORN, SOYB, WEAT
by: T. Marc Schober

Crop conditions continue to steadily decrease and corn harvest in the south is in full gear.

As of September 15, 2013, 18% of the corn crop was in poor or very poor condition, a 1% increase from last week. Corn in good or excellent condition was 53%, a 1% decrease from last week. Corn was 81% dented this week, behind the five-year average of 86%. Matured corn was at 22% and last year at this time corn was an astonishingly 73% mature. Harvest has begun and as of yesterday 4% of the corn crop has been harvested.

Soybean condition was 18% of the crop in poor or very poor condition, a 3% increase from last week. Soybeans in good or excellent condition were 50%, a 2% decrease from last week. Soybeans dropping leaves were at 26%, compared to 54% last year at this time.

Spring wheat was 90% harvested as of September 15, 2013, compared to 99% last year.

December futures for corn ended the week at $4.56 per bushel and wheat ended the week at $6.41. November futures for soybeans ended the week at $13.48 per bushel. Year to year corn prices are down 35.5%, soybeans are down 14.4%, and wheat is down 27.2%.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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