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T. Marc Schober
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Marc Schober is the editor of Farmland Forecast (http://farmlandforecast.colvin-co.com/) and an Associate at Colvin & Co. LLP. Mr. Schober researches the investment opportunities in farmland and agriculture and has been featured in many financial publications and conferences.
My company:
Farmland Forecast
My blog:
Farmland Forecast
My book:
Investors' Guide to Farmland
  • Crop Progress: Corn Harvest on Schedule 3 comments
    Sep 20, 2011 9:49 AM | about stocks: DBA, AGCO, BAL, JJG, POT, RJA

    This afternoon, the USDA released its weekly crop progress report. The corn harvest is 10% complete which is on pace with the 11% 5-year historical average. The USDA estimated 51% of the corn crop is in good or excellent condition, down 2% from last week. The estimate for corn condition in very poor or poor condition increased to 21%, compared to 20% last week. Last year at this time, 11% of the crop was in very poor or poor condition while 68% was in good or excellent condition.

    This week the USDA estimated that 92% of the corn crop was dented while 97% was last year in the third week of September; the 5-year historical average is 91%. Out of the entire corn crop, 46% was considered mature by the USDA this week, 29% was mature last week, 67% was mature last year, and the 5-year historical average is 48% in the third week of September.

    Of the 18 primary soybean producing states, 18% of the soybean crop is in poor or very poor condition while 53% is in good or excellent condition, which is well off 2010 estimates of 12% and 63% for the third week in September. The USDA estimated that 33% of soybeans were dropping leaves by this week, which is again severely lagging the 5-year historical average of 47% for the third week of September.

    The spring wheat harvest is slightly ahead of historical averages with 93% of the harvest complete so far. The 5-year historical average is that 92% of the spring wheat crop has been harvested by this week in September.

    Corn prices decreased by 6.1% over the past week ending at $6.92 per bushel, soybeans were down 3.8% to $13.36 per bushel, and wheat ended the week down 3.9% closing at $6.73 per bushel. Year-over-year corn prices are up 36.0%, soybeans are up 27.0%, and wheat is up 4.6%.



    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: DBA, AGCO, BAL, JJG, POT, RJA
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Comments (3)
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  • Norman Tweed
    , contributor
    Comments (7487) | Send Message
    Thanks Marc Schober for this crop report. The corn has all been harvested from the fields around me in Bumpass Virginia!
    21 Sep 2011, 01:28 PM Reply Like
  • T. Marc Schober
    , contributor
    Comments (59) | Send Message
    Author’s reply » That's great Norman. It looks like corn should start within a few weeks around here. Many farmers are full into soybeans.
    22 Sep 2011, 08:05 AM Reply Like
  • jjmc2001
    , contributor
    Comments (1358) | Send Message
    Early reports of corn harvest in Southern Illinois were generally poor this week with yields about half of normal. Similar reports from North Central Missouri with some of the very early planted corn looking better. For the same geographic areas the early beans are generally poor to fair with some of the no-till beans still maturing farmers are hopeful. As expected the 100 degree heat during corn pollination coupled with lack of rain for weeks thereafter dealt a powerful blow.
    22 Sep 2011, 10:55 AM Reply Like
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