Despite the dry conditions in recent weeks, corn crops in many regions are still registering moisture levels in the mid-20% and as high as 30% (or more) in some cases. This presents a significant challenge for farmers who are hesitant to incur additional costs for drying their corn. With corn prices being lower than what many farmers expected, the prospect of spending more money and energy is not a welcome one for struggling farmers.
Soybean harvest faces similar challenges. It's not just corn that's seeing a slowing in the harvest. The US soybean harvest is also slightly behind schedule, with only 23% complete, as opposed to the expected 25%. Farmers who are racing against the clock and unfavorable market conditions.
Crop maturity though is advancing faster than the recent years’ trend. 82% of corn and 86% of soybeans are mature, which is ahead of both last year's figures and the five-year averages.
The weather forecast presents a mixed bag of hope and challenges. A strong cold front is expected to move east across the U.S. in the immediate-term, bringing the possibility of frost to the Northern Plains and Upper Midwest. There are also rains and thunderstorms in the forecast. Most areas should see some light rain that could further delay the harvest process. However, the cold will not last long as forecasts show temperatures rising later in the week, potentially giving farmers a window to harvest their crop, or at least assist in getting conditions closer to ideal.