RCM Ag Services

Tag: soybeans

27 Aug 2021
Agriculture, Corn, Grain, Market Commentary, Market Updates, Podcast, Risk Management, Weather, Weekly Prices rcmagserv 0 comment

AG MARKET UPDATE: AUGUST 19-26

Corn was unchanged on the week as slow news, a lack of major export announcements, and no major rain events crossed the area’s most in need. Additionally, most of the corn belt has seen above average temperatures this week keeping a bid under the market. The late season heat and hot nights are taking their toll on the crop but hopefully the heat will end soon according to some forecasts. This time of year, markets begin to look at multiple yield reports coming in from various independent groups – i.e the Pro Farmer Tour (results HERE). At first glance many in the industry feel the tour results are a bit high, but only time will tell.  Any big surprise exports or continued weather problems will be the bulls news while rain and yield reports will be the bears.

Via Barchart

Soybeans made small gains on the week as the same news moved beans that moved corn. China continues to be a buyer going on 2 weeks now which is supportive after their long silence. The market is reacting to these purchases as if they were expected and normal purchases. Regular and consistent purchases will need to continue for the market to remain supportive.  Any abrupt could see another slide heading into harvest before we have a better idea on yield. The rains that some think will help corn will also help beans as we head into September.

Via Barchart

Dow Jones

The Dow gained on the week as what seemed to be investor weariness last week turned into buying opportunities. The events in Afghanistan weighed on the market Thursday with uncertainty about the US foreign relations going forward.  As of this morning, Friday 8/27/2021, the S&P and Nasdaq are making fresh all-time highs following the latest comments from the Federal Reserve where NO NEW policy changes were announced and supportive monetary measures will remain in place.

Afghanistan

The suicide bombing by an ISIS-K member Thursday in Kabul, that claimed the lives of dozens of Afghan citizens, along with a dozen US Service members, while injuring countless others, shook the world. The swiftness of the fall of Afghanistan’s army and government to the Taliban has put the US at the center of one of the biggest international situations in recent memory. Going forward the countries around Afghanistan will be important to keep an eye on for exporters to the middle east.

Podcast

Check out our recent podcast where we’ve brought on one of our real-life firefighters from RCM Ag – Jody Lawrence along with Tim Andriesen from the CME Group to provide us with some inside baseball knowledge of the current state of the agriculture markets and to discuss the real-world application of the use of short-dated options to potentially fight the current blaze of volatility surrounding agriculture markets.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The maps below show there was not much change over the week despite weekend rains in some areas that needed it and some drying in Indiana.

Via Barchart.com

20 Aug 2021
Corn, Grain, Market Commentary, Market Updates, Research, Soybeans, Weekly Prices rcmagserv 0 comment

AG MARKET UPDATE: AUGUST 12-19

Corn fell on the week tied to better than expected rain totals and uninspiring demand news. Weather over this weekend is expected to provide relief in some areas before normal late summer weather returns to much of the corn belt. Exports were good but lagging this week and as we have seen recently we need consistent and strong buying, not just good. Thursday’s strong downturn was commodity wide as all grains and energies struggled. The western corn belt is expected to get rain this weekend – it needs it – as you can see in the drought monitor below. We are still within the pre-report trading range so how the market trades on Friday and rainfall over the weekend will be the market movers the next couple of trading days.

Via Barchart                          Soybeans, like corn, fell on the week lead by the losses on Thursday. Bean oil and meal also struggled over the last few days as world demand remains in question going forward. The rains expected over this weekend should help the bean crop more so than corn in those areas so the actual rainfall received will be important come Sunday night. Like corn, exports were good but not great and we NEED great to get people excited. If we see China buying new crop beans (or corn) in the coming weeks that would be welcome support for the market that is needing direction. The Biden administration has yet to make up their mind on what they want to do with biofuel mandates presenting the markets with a big question mark that they must work with for now.

Via Barchart

Dow Jones

The Dow lost on the week as markets try to solve the mystery of the Fed and their tapering while also worried about the Delta variant. The consumer demand report and weakness in China consumer demand are hanging over the markets with a possible correction on the way according to some analysts.

US Dollar

The US Dollar hit a 10 month high adding to the bearish reaction across all commodities this week. A weaker USD helps US commodities be more competitive, but we are still a long way from where we were pre-pandemic.

Podcast

Check out our recent podcast where we’ve brought on one of our real-life firefighters from RCM Ag – Jody Lawrence along with Tim Andriesen from the CME Group to provide us with some inside baseball knowledge of the current state of the agriculture markets and to discuss the real-world application of the use of short-dated options to potentially fight the current blaze of volatility surrounding agriculture markets.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The maps below show the current drought conditions with rains expected over much of the corn belt over the weekend. Last week’s is also there for comparison week over week.

Via Barchart.com

13 Aug 2021
Corn, Grain, Market Commentary, Market Updates, Soybeans, USDA Report, Weekly Prices rcmagserv 0 comment

AG MARKET UPDATE: AUGUST 5 – 12

Corn saw large gains following the USDA report on Thursday before finishing the day well off the highs. The USDA cut expected yield to 174.60 bu/acre from 179.5 in the July report. The USDA also lowered Brazil’s crop yield by 6 million tons to 87 million and some estimates believe it will still be lower than that. The combination of these two yield cuts cut the world ending stocks for the 21/22 year by over 6.5 million tons which shows a slightly lower demand as well.

The report this year cut yield expectations much earlier than in the past which is what surprised the market as we usually get adjustments after the fact. Brazil will probably see another cut in their production down the road where the USDA left the possibility of raising the US production in the future by making such a drastic cut. The drought monitor at the bottom shows current conditions and although it is slightly improved from last week but as you have seen the plains have had a brutal stretch.

Via Barchart                       

Soybeans had more of a mixed report but still gained following the report while finishing well off their highs. The USDA pegged the bean crop at 50 bushel per acre but cut demand by raising world ending stocks. As the demand from China has slowed from the torrid pace to start the year that fueled the run up in price the demand has been quiet recently. With improving weather conditions coming down the stretch the US bean crop is in good shape with the possibility to improve. The world supply is snug but not critically tight so there is more wiggle room for beans than corn currently.

Via Barchart

Dow Jones

The Dow gained on the week as strong earnings continue to come through with the normal names leading the way. The Biden administration’s Infrastructure plan will become more a story as more exact details come out but will provide areas of growth.

Podcast

Check out our recent podcast where we’ve brought on one of our real-life firefighters from RCM Ag – Jody Lawrence along with Tim Andriesen from the CME Group to provide us with some inside baseball knowledge of the current state of the agriculture markets and to discuss the real-world application of the use of short-dated options to potentially fight the current blaze of volatility surrounding agriculture markets.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The maps below show the continued drought conditions in the northern Midwest that reaches into the Canadian planes while it has also improved since last week.

 

Via Barchart.com

08 Aug 2021
Corn, Grain, Market Commentary, Market Updates, Soybeans, Weekly Prices rcmagserv 0 comment

AG MARKET UPDATE: JULY 29 – AUGUST 5

Corn lost over the last 2 weeks, but as you can see below the range has been much tighter than in the last 3 months. Next week’s reports will be the best chance to trade out of this range, whether it is higher or lower is the billion dollar question. Many private firms have come out with estimates recently ranging from the USDA’s number of 179.5 to the mid 170s. Anything lower than 178 would help the price of corn, along with the continued demand rebound and a smaller Brazil crop tightening world supply. CONAB will update the expected yield for Brazil on the 10th of August (next week) kicking off a week of important reports. Brazil is expected to continue to get smaller BUT will the USDA adjust their world ending stocks appropriately in the report on the 12th? Currently the USDA has Brazil’s production pegged at 300-320 million bushels higher than CONAB so a correction would seem to be coming this week.

As you can see in the drought monitors at the bottom many areas are still suffering from a lack of rain and recent heat did not help the situation. Heat is expected to return by the middle of the month after this small break so rain continues to be welcome across the corn belt. Exports were better than expected this week; however not that large numbers that were expected.

Via Barchart                       

Soybeans had a rough week as bean conditions continue to be strong with solid expected yields. Beans have a more bearish feel right now with weather not playing a major factor one way or another. The demand has not ramped up like it did this time last year in the export markets = the bulls need to see that level of demand return to spark additional buying. The USDA’s report next week, like corn, should give us an important update on the expected demand. Current yield estimates are all above 50 bushels an acre with several over 51 bushels. Oil and meal markets have experienced weakness recently as well attributing to soybeans continued decline.

Via Barchart

Dow Jones

Despite worries about the Delta Variant, the Dow gained over the last couple weeks and finally broke out to new all-time highs today (Friday, August 6th) as companies continue to beat earnings across the board. Some states/cities have begun readopting mask mandates in hopes to slow the spread while vaccine rollouts continue.

Podcast

Check out our recent podcast where we’ve brought on one of our real-life firefighters from RCM Ag – Jody Lawrence along with Tim Andriesen from the CME Group to provide us with some inside baseball knowledge of the current state of the agriculture markets and to discuss the real-world application of the use of short-dated options to potentially fight the current blaze of volatility surrounding agriculture markets.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The maps below show the continued drought conditions in the northern Midwest that reaches into the Canadian planes.

PRICES

Via Barchart.com

23 Jul 2021
Corn, Grain, Market Commentary, Market Updates, Research, Weather, Weekly Prices rcmagserv 0 comment

AG MARKET UPDATE: JULY 15 – 22

Corn made small gains early in the week only to fall short heading into the weekend as weakness continues to creep into the market with poor exports continuing and weather uncertainty. The hottest temperatures of the year for the plains and western corn belt are expected in the next few days with the only relief possibly coming past the 7 day forecast. As bad as things seem in the western corn belt, the eastern corn belt is having great weather, but will it be enough to offset those loses?

Brazil’s crop continues to get smaller, despite the USDA not making any major outlook changes, as they experience more freezing temperatures on their corn crop. China continues to sit on the sideline with no big purchases as they wait for lower prices before buying US corn. We know they will need to make purchases at some point but as we have seen in the past when there is no news from China prices tend to dip until they make a purchase so they will be quiet waiting for the right time to buy.

Via Barchart                          Soybeans had a rough Thursday as the extended forecast offered a chance of help.  We have to remember that extended, is just that – it’s NOT tomorrow – and just as help was added it can go back to hot and dry in one weather report. You’ll note in the chart below that beans have been trading mostly sideways since the start of May. This will probably continue unless some unforeseen news hits the markets or a major weather event/change in forecast happens. The next major report is the August 12th report which could be what finally gets us out of the range (whether to the upside or downside is TBD).

The bean oil market has added volatility to beans as well as the Biden administration’s silence on their direction for the bio fuel industry.  Their lack of action, one way or the other, is hurting beans and bean oil as producers remain with unanswered questions which leads to uneasiness (read volatility).

Via Barchart

Dow Jones

The Dow lost on the week (Thursday-Thursday) following a large selloff on Monday followed by 3 straight days of gains. The market was trading positively into the week’s end as well getting back over 35,000 in intraday. The Delta variant worries seem to be biggest fear in the market right now as it spread dangerously throughout under vaccinated areas of the country threatening the continued reopening.

Podcast

Check out our recent podcast with Dr. Greg Willoughby: We’re talking with Greg in the new episode about being a “plant doctor”, weather patterns, GMO & organic produce, crop history, technical advances, level 201 education on agronomy, the agronomy equation, Helena Agri, soil biology, American v European agriculture, Greg’s early background in livestock, and the advancement of native plants to modern produce.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The maps below show the current drought conditions in the US. The second map is last week’s so you can see how the areas that received rain improved or did not. The wild fires continue to rage in the west as smoke from them has carried all the way to Southeastern US.

Via Barchart.com

16 Jul 2021
Corn, Grain, Market Commentary, Market Updates, Other News, Soybeans, USDA Report, Weather, Weekly Prices rcmagserv 0 comment

AG MARKET UPDATE: JULY 8 – 15

Corn rallied this week following Monday’s USDA report that was relatively neutral. The USDA left expected US yield the same while slightly lowering the 20/21 ending stocks and raising the 2021 production. The USDA did lower Brazil’s corn production numbers, but some estimates still think they are overstating what it will be. The USDA dropped Brazil’s corn production from 98.5 million tons to 93 million, while only raising Argentina’s 1.5 million. The drought conditions persist in the upper Midwest as some areas are expected to get rain over the weekend. The drought in the Canadian prairies and Dakotas does not have any major relief in the forecast as heat and dryness remains in the next weeks forecast. Exports this week were small but not surprising. Weather continues to be the main driver as markets will react to where it rained and how much over the weekend to start next week. Currently about 36% of the US corn production is in an area experiencing drought. As you can see in the drought monitor below northern Iowa and southern Minnesota is a good amount of that.

Via Barchart                          

Soybeans gained on the week as well following the USDA report. There was no adjustment to expected yield and only slight adjustments higher to ending stocks. Beans kept up their momentum following the report for the week before cooling off Thursday. It will be important how they end the week and open Sunday to set the tone for next week. Weather continues to be the main market mover as it will be important heading into the end of July and August. About 31% of the soybean production is in an area currently experiencing drought so any and all rain will be welcome for the crop but the price will be impacted as well.

Via Barchart

Dow Jones

The Dow gained on the week despite growing inflation concerns and Powell’s comments about Fed strategy. The Biden administration’s child tax credit has arrived as well with it going into effect this week. The Delta variant continues to spread around the US with some places beginning to bring back mask requirements.

Podcast

Check out our recent podcast with Dr. Greg Willoughby: We’re talking with Greg in the new episode about being a “plant doctor”, weather patterns, GMO & organic produce, crop history, technical advances, level 201 education on agronomy, the agronomy equation, Helena Agri, soil biology, American v European agriculture, Greg’s early background in livestock, and the advancement of native plants to modern produce.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The maps below show the current drought conditions in the US. The second map is last week’s so you can see how the areas that received rain improved or did not.

Via Barchart.com

 

 

09 Jul 2021
Corn, Grain, Lumber, Market Commentary, Market Updates, Research, Soybeans, Weather, Weekly Prices rcmagserv 0 comment

AG MARKET UPDATE: JULY 1-8

The corn market fell thanks to the rain that was received in the Upper Midwest over the 4th of July weekend. As always when it rains in areas that need it the most, the market freaks out as if it is a crop making/saving rain. The reality is, although the rain was helpful, there are still significant drought conditions across most of the areas that received rain (see in the drought chart at the bottom). With this said, next week is forecasting rain across the western corn belt providing some more relief to those areas before returning to hot and dry after.

CONAB (Brazil’s USDA) updated their yield expectations this morning by cutting their corn crop by 3 million metric tons (120 million bushels). This change came before a freeze event they had recently which could lead to problems and another cut of their expected crop. The USDA will update their estimates of the South American crop next week in the report.

The weekly ethanol report was bullish as production was 2% ahead of pre-Covid 2019 levels. US drivers drove a record amount over the 4th of July weekend with indications that usage for the summer could be a new record. The USDA is expected to increase their estimates for corn used for ethanol coming up as their numbers are lagging the actual pace.

Via Barchart                        Soybeans, like corn, fell following the holiday weekend with huge losses on Tuesday to start the week. Weather remains the main focus of the markets as rains in the next week will help but forecasts have it followed by heat and dryness. Bean crop conditions this week were down 1% to 59% g/e. The soybean balance sheet does not have as much room for error as corn so any adverse soybean news will be bullish for the market. The long term up trend broke about 3 weeks ago but prices are still at a great level compared to what we were seeing this time last year. The report on Monday will help tell us what other news should be moving the market other than weather but headlines love to say it rained.

Via Barchart

Dow Jones

The Dow lost on the week after a tough Thursday in the markets. The market bounced back well off its lows on Thursday into the close however to keep some momentum. The markets have been volatile, but the big picture is important as we have traded in the range above 34,000 for most of the last 2 months. The delta variant has had many people worried and keeping an eye on the market for any indicator of how bad it could end up being for continued reopening around the world.

Lumber

Lumber prices have flattened out the last couple weeks after losing over half its value from the peak. Markets are hinting at this being the beginning of a rebalancing as the producers and suppliers feel out the supply and demand story.

Podcast

Check out our recent podcast with Dr. Greg Willoughby: We’re talking with Greg in the new episode about being a “plant doctor”, weather patterns, GMO & organic produce, crop history, technical advances, level 201 education on agronomy, the agronomy equation, Helena Agri, soil biology, American v European agriculture, Greg’s early background in livestock, and the advancement of native plants to modern produce.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The maps below show the current US drought conditions this week vs last week. As you can see the rain that freaked out some in the markets did not exactly fix the drought problems. The rain was helpful but will need more consistent sustained rain to help the crop in the coming months.

Via Barchart.com

 

 

02 Jul 2021
Agriculture, Corn, Grain, Market Updates, Other News, Soybeans, USDA Report, Weekly Prices, Wheat rcmagserv 0 comment

AG MARKET UPDATE: JUNE 18 – JULY 1

The USDA Acreage report was released this week and was bullish for corn. Planted acres came in @ 92.70 million acres, which was below the average estimate of 93.787 million. June 1st stocks were also slightly lower than estimates coming in at 4.112 billion bushels. For the second year in a row the USDA came out with less planted acres than pre-report estimates. There was also a note at the start of the report saying there are still 2.18 million acres intended to be planted during the survey time of May 29-June 17. This means that the 92.70 million number may end up being lower as odds are not all the 2.18 million acres got planted. This combined with the lower stocks gave corn a big boost as Dec’ 21 futures went limit up post report.

This is the last major market moving report (historically) of the summer, which means we are now in a weather market for the time being. The upper Midwest is still very dry and needs relief as you can see in the drought monitor chart at the bottom.

Via Barchart                       

Soybeans, like corn, saw big gains following the release of the acreage report. Planted acres came in at 87.6 million acres, below the average estimate of 88.955 million. The June 1st stocks were also lower than estimates coming in at 767 million bushels, 20 million lower than the average estimate. Beans had a similar post report reaction to corn because the bullishness of the numbers were similar. With acres and stocks both being smaller than anticipated this will put pressure on the crop and weather during August will be very important for not only the crop but also the price.

Via Barchart

Wheat had a neutral report but followed corn and soybeans higher after. Wheat looks to be forming a bottom on the charts but July weather is still critical for the plains/Canadian wheat crop. Wheat struggled lower on Thursday as they had their own trade and did not follow the lead of corn and soybeans. Weather this month will be important for the crop as we are also in a weather market for wheat too.

Via Barchart

Dow Jones

The Dow gained on the week as all major indexes had a good week as trade continues to be getting back to normal following the covid lockdown of the last year. The Dow closed out the month strong after seeing major weakness the first half of June.

Lumber

Lumber prices have continued their slide down and are back in the 700s after trading into the mid 1700s in early May. The pressure on the market looks to continue as the downturn has been sharp.

Podcast

Check out our recent podcast with Dr. Greg Willoughby: We’re talking with Greg in the new episode about being a “plant doctor”, weather patterns, GMO & organic produce, crop history, technical advances, level 201 education on agronomy, the agronomy equation, Helena Agri, soil biology, American v European agriculture, Greg’s early background in livestock, and the advancement of native plants to modern produce.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The map below shows current drought conditions and the continued problems in the upper Midwest and continued sever drought in the western US.

  

Via Barchart.com

 

 

21 Jun 2021
Agriculture, Corn, Grain, Market Commentary, Market Updates, Research, Soybeans, Weather rcmagserv 0 comment

AG MARKET UPDATE: JUNE 11-18

Corn had a volatile week much like beans having a limit down day on Thursday then a strong recovery on Friday. Corn had had a choppy trade this week before Thursday but the collapse in soybeans and soybean oil brought corn down with it. The bearish news for corn was that it was expected to rain in the drought stricken upper Midwest. This rain is much needed and will help but more consistent rainfall over the coming weeks would be needed to help the crop more. The rain will likely pressure markets lower to start the week if forecasts were accurate. If it does not rain as much as predicted it could fuel the bulls to continue from Friday. The dip on Thursday allowed some bulls to get back in the market at an attractive area while the bullish news remains the same.

Via Barchart                          

Soybeans nosedived on Thursday as they took full advantage of the expanded limits and fell over $1. The pressure on beans has been coming from the soybean oil and crush markets as crush numbers have decreased and soybean oil prices have fallen rapidly. With US yield estimates coming in around 52 bpa the price levels from earlier in the year would be hard to get back to. South America had a good bean harvest so there is not as much stress on the supply side like there is for corn. If dryness continues into the summer and yields begin to take a hit we could see a rebound for the bulls. The trade over the next week and half going into the June planted acreage report will give us an idea of what to expect in the report at the end of the month.

Via Barchart

Dow Jones

The Dow suffered loses on the week as the Fed announced they would begin looking at raising rates to help combat inflation. Although they said the plan would be to not raise til 2023 the market seems to think that timeline will probably be moved up if inflation accelerates.

Lumber

Lumber prices have dipped recently but are still at very high levels historically. Check out our recent post about the lumber market and what all has been going on.

Podcast

Check out our recent podcast with Dr. Greg Willoughby: We’re talking with Greg in the new episode about being a “plant doctor”, weather patterns, GMO & organic produce, crop history, technical advances, level 201 education on agronomy, the agronomy equation, Helena Agri, soil biology, American v European agriculture, Greg’s early background in livestock, and the advancement of native plants to modern produce.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The map below shows current drought conditions and the continued problems in the upper Midwest. Drought conditions continue in the Midwest with some areas getting relief over the weekend. For reference the second chart below is this time last year.

Via Barchart.com

 

 

11 Jun 2021
Agriculture, Corn, Cotton, Grain, Lumber, Market Updates, Soybeans, USDA Report, Weather, Weekly Prices rcmagserv 0 comment

AG MARKET UPDATE: JUNE 4-11

Corn had another good week that was made better following the bullish news in Thursday’s WASDE report. At the start of the week corn planting was seen as 91% complete with little progress being made from last week but at this point in the process limited progress is expected. The dryness in the Midwest and other areas of the corn belt can be seen in the drought monitor below. The USDA agreed with what many in the industry have been saying by reducing US and world ending stocks.

20/21 US ending stocks was adjusted down to 1.107 billion bushels from 1.257 in the May report while 21/22 ending stocks were adjusted down to 1.357 billion bushels from 1.507 in May. World ending stocks for 20/21 were lowered to 280.60 million tonnes from 283.53 while the 21/22 was also lowered to 289.41 million tonnes from 292.30. There is still a disconnect between the USDA and the public on what’s going on in South America and the size of their crop. Word on the street is that it has been shrinking as weather woes caused issues but the USDA does not have them down nearly as much in this report.

Now that growing season has started weather and specifically where it does and does not rain will be the main price driving factors.  The upper Midwest is dry but the delta just got torrential rains this week and areas in Indiana and Ohio have been soaked too. The rain in the Dakotas and Iowa to end the week will help but still need rain over extended periods to get back to good growing conditions.

Via Barchart

Soybeans slipped a bit on the week but are still hanging on inside the recent range. Bean news has been quiet as of late with no market specific news, unlike corn. Soybean planting was seen as 80% complete to start the week with some continued progress to be made. The USDA WASDE report was more bearish for beans than corn but markets responded well after.

The 20/21 US ending stocks were raised from 120 million bushels to 135 million and the 21/22 ending stocks were raised form 140 million to 155 million bushels respectively. These were both still within trade estimates so no major shock with the US or the world stocks. The 20/21 world ending stocks were raised from 86.55 million tonnes to 88 million and the 21/22 ending stocks were raised from 91.10 million to 92.55. Raising the stocks month over month is usually bearish and old crop took a hit while new crop rallied on the report.

Markets moved lower Friday with rain coming in some much needed areas heading into the weekend.

Via Barchart

Cotton has seen modest gains this week after soaking rains and flooding in areas of the Delta. The WASDE report this week showed the expected directionally bullish revisions. There were no major surprises, but their numbers may be hinting at a continued decline in production going up against the rising levels of global consumption. The USDA projections for 21/22 show a 100,000 bale increase in exports from last month to 14.8 million bales. As exports continue to be strong for the 20/21 crop ending stocks were lowered 200,000 bales to 2.9 million ending stocks. Global ending stocks were lower as well with consumption rising.

Via Barchart

Dow Jones

The Dow lost slightly on the week as news was slow with no major market news or movers. Covid openings continue as numbers continue to decline in the US while there are still problems around the world.

Lumber

Lumber prices have dipped recently but are still at very high levels historically. Check out our recent post about the lumber market and what all has been going on.

Podcast

Check out our recent podcast with Dr. Greg Willoughby: We’re talking with Greg in the new episode about being a “plant doctor”, weather patterns, GMO & organic produce, crop history, technical advances, level 201 education on agronomy, the agronomy equation, Helena Agri, soil biology, American v European agriculture, Greg’s early background in livestock, and the advancement of native plants to modern produce.

https://rcmagservices.com/the-hedged-edge/

US Drought Monitor

The map below shows current drought conditions and the continued problems in the upper Midwest. More drought conditions have crept into southern Iowa and parts of Nebraska in the last week. Heat over the next two weeks will be a problem in the Dakotas and western corn belt.

Via Barchart

 

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