News & Publications
May 23, 2023 |
Why it’s impossible to outguess a weather market
The National Weather Service this week forecast warmer to much warmer than normal temperatures during June for most of the western Corn Belt and Northern Plains. Some contend this is just the start of a pattern that will eventually evolve into a hot, potentially dry summer that would result in below-trend yields for corn and soybeans.
Crop Progress and the threat of Prevent Plant acres are making headlines as well. Crop Progress through Sunday of this week showed corn at 81% planted nationwide. This is ahead of the 5-year average, but North Dakota is only 32% planted. For them, this is their slowest planting pace for this time of year with much of their planting progress made in the last week. Prevent plant will be a consideration for the region beginning this Thursday.
