Relative Maturity Network Trends
As the Republican convention, and Sec. Vilsack's vice presidential hopes, came to an end last week, weather and market volatility continued to worry farmers across the country. Though farmers reported good crop health, hot and dry conditions forecasted through August might still shorten supplies and raise prices come harvest.
The spotlight is on soybeans this week. Last week, hundreds of FBNSM farmers responded to our soybean aphid pressure poll. There were a couple of threatened spots in North and South Dakota, Illinois, and Indiana, but the national trend was one of low aphid pressure in soybeans. This, coupled with rain in the Midwest which continues to prove drought forecasts wrong, means that conditions are right for a record soybean harvest.
The big question in the market is whether fewer planted soybean acres might lead to a global shortage in the fall. We can look at relative maturity of planted acres as an indicator of when crops will be harvest-ready. A stable supply of soybeans coming out of the field, with little storage and equipment pressure and few shortages, should lead to less price volatility. But what will that mean for prices, both during harvest and in the coming weeks? Learn more with FBN Network Trends.
Next Saturday, look out for Network Trends | Seed Brands. We'll explore seed brand marketshare and yield trends as we move into seed selection season and how major mergers and consolidations might impact the market.
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Inside this week's Full Network Trends Newsletter:
- A look at national FBN Crop Composition data offers insights on what a record soybean crop might look like, and what that'll mean for prices this fall.
- Analysis of national FBN Relative Maturity data for soybeans, which will help determine how volatile soybean supply will be during harvest.
- We could be looking at a record year for corn. What does that mean for storage and equipment during corn harvest this season? Get the details with state-level data on Relative Maturities and Planting Dates for corn and soybeans.