August 5, 2008


US corn in good condition holds steady


Development of the US corn crop remained well behind the five-year average in the week ended Sunday (August 3) while the percentage of corn in good-to-excellent condition remained unchanged, according to the USDA.


Development of the US soybean crop similarly lagged behind average while a rise was noted in the good-to-excellent condition rating.


The amount of US spring wheat rated in good-to-excellent condition fell in the week ended Sunday while harvesting of the crop trailed the five-year average.


The US winter wheat crop harvest completion rate rose above last week but remains below the five-year average. "Given the late (corn) plantings, perhaps this is kind of swan song before the condition ratings start seasonally coming down," said John Kleist, analyst/broker at Allendale Inc. "We're still not out of the woods yet, silking is still behind."


Weather, however, will pose little threat across the US cornbelt throughout the next week.


A cooling trend expected to hit Tuesday (August 5) will be accompanied by significant rainfall in most areas throughout the week, according to private weather forecaster T-storm Weather.


This is critical for soy as they progress through the pod-filling phase of development, a substantial determinant of yield potential. US corn is at the tail end of its critical yield-determining pollination period.


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