Midwest Weather Outlook Favorable
The latest 30- and 90-day climate outlooks, released May 17 by the National Weather Service (NWS), were favorable for corn and soybean production. NWS forecasts above-normal rainfall and below-normal temperatures in much of the western Corn Belt during June and the June-August period. However, the weather service did not offer predictions for precipitation or temperature for the eastern Corn Belt, part of which has been quite dry this spring. That may keep the market uncertain about crop prospects there. The 30- and 90-day outlooks for the Plains hard red wheat belt call for above-normal precipitation, which suggests a higher potential for harvest delays and crop quality problems.
In the Southeast, during June, the weather service forecasts above-normal temperatures and below-normal rainfall – indicating that the area will face continued drought conditions. The 90-day outlook also calls for above-normal temps in the Southeast.
Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.
To see more market perspectives, visit Brock's Web site at www.brockreport.com.