News Summary: Wheat rises as dry spell hits Kansas

By The Mays Report: By G C Mays,Declining crop conditions due to persistent drought continue to threaten this years corn crop. The percentage of the corn crop rated good to excellent was 56% through the week ending June 24th. This was 7 percent lower than the previous week and 21 percent less than the 77 percent good to excellent rating reported on May 20th. In fact, corn crop conditions are moving opposite of the direction they moved a year ago.

By T. Marc Schober:According to today’s USDA weekly progress report of the 18 primary corn producing states, the percentage of crop rated good or excellent fell by three percentage points to 66% over this past week. The percentage of crop rated poor or very poor increased by two percentage points to 11%, while the percentage of crop rated fair increased to 23%, from 22% the previous week.

By T. Marc Schober:Corn planting in the top 18 corn producing states finished over the past week as farmers now look to complete soybean planting. A slow start to the planting season due to excessive rainfall will draw attention to crop conditions throughout the growing season.

By T. Marc Schober:Corn and soybean conditions have yet again plummeted as hot and dry weather continues to abuse the crops along the Corn Belt.

By T. Marc Schober:Corn and soybean conditions declined by another 8% this week due to continued hot and dry weather across the Corn Belt. Farmers are starting to realize that a large chunk of their corn crop has been lost to the heat wave.

By T. Marc Schober:Corn and soybean conditions declined by an alarming 8% as the Corn Belt continues to see hot and dry weather. Abundant rainfall would help, but not replace the record 2012 corn crop that was predicted. Farmers are starting to find crop conditions beyond repair this summer and losing a significant portion of their crop.

Wheat prices rose Tuesday as crop condition in parts of Kansas deteriorated due to dry weather.

T. Marc Schober submits:Yesterday afternoon, the USDA released its weekly crop progress report. The corn and soybean crop conditions both decreased in quality from last week’s report, while both crops are continuing to mature at an above average pace. The USDA estimated 71% of the corn crop is in good or excellent condition, while 10% is in poor or very poor condition, which was a 1% change from good or excellent to poor or very poor from last week.