Hoosier Ag Today meteorologist Rob Wasson says drought conditions continue to spread across Indiana with most of the state classified as abnormally dry. There is severe drought in 4 counties in the southwest corner and minimal rainfall is in sight.
So how is the Hoosier corn crop faring? Jim Riley is a grain market analyst in White County who talks with farmers all day. Many of them tell him corn yields will be way down. He shared one conversation with a farmer.
“He said as I see it right now, if we get rain in the next week, measurable amount, I look to have some 120-130 bushel corn. If it doesn’t rain the next week 85 will top it out. And I thought he was being very realistic on that.”
Riley thinks we are starting to see the futures market reflect the likely 2012 yield drop.
“I wouldn’t be a bit surprised to see July corn go to 6.35 and if the drought hangs in and we don’t get measurable rain in the eastern Corn Belt, I think you could see the July corn, particularly with the basis they’ve got on it here, but without the basis the board price you could easily see 6.85 corn. And that could be done pretty short term. I’m talking in the next ten days.”
Riley says soybeans are injured and we won’t get top yields this year, but there is still more time for beans to rebound and they have a much better chance than corn to approach normal yields at harvest.
Purdue University specialists have also weighed in on crop concerns around the state. Bob Nielsen says as far as corn condition, “We’re tip-toeing on the edge of something serious.” Read more in the full Purdue release.[audio:https://www.hoosieragtoday.com//wp-content/uploads//2012/06/Jim-Riley-on-corn-concern.mp3|titles=Jim Riley on corn concern]