View from the Cab: More positives needed

By: Kent Casson

After last week’s not so friendly USDA report, perhaps the next one will treat corn and soybean prices better.

Prices reacted negatively, especially for soybeans, after the information was released late Tuesday morning. Soybean ending stocks were up to 320 million while the market was looking for around 300 million bushels. Corn ending stocks were around 1.5 billion bushels which was about 60 million bushels more than expected. Wheat prices were actually higher after the report as ending stocks came in about as expected.

The markets tried to rebound the next day after Tuesday’s losses. Let’s hope our decent prices hold up through this harvest season and into winter. There is plenty of harvest left as many soybeans are still standing out in the fields.

When it comes to Illinois crop production, the corn planted area is estimated at 11.0 million acres, down 3 percent from last year. Harvested area, forecast at 10.8 million acres, is down 3 percent from 2020. Based on October 1 conditions, the Illinois corn yield is forecast at a record 210 bushels per acre, up 19 bushels from 2020. Production is forecast at 2.27 billion bushels, up 7 percent from last year’s production.

Planted area for soybeans is estimated at 10.60 million acres, up 3 percent from last year. Harvested area, forecast at 10.55 million acres, is up 3 percent from 2020. Based on October 1 conditions, the Illinois soybean yield is forecast at a record 64 bushels per acre, up 4 bushels from 2020. Production is forecast at a record 675 million bushels, up 10 percent from 2020.

Alfalfa hay harvested area is forecast at 180,000 acres, down 18 percent from 2020. Based on October 1 conditions, the Illinois alfalfa hay yield is forecast at 3.50 tons per acre, down 0.40 tons from the previous year. Production is forecast at 630,000 tons, down 27 percent from 2020.

In other hay, harvested area is forecast at 240,000 acres, down 11 percent from 2020. Based on October 1 conditions, the Illinois other hay yield is forecast at 2.40 tons per acre, up 0.10 tons from the previous year. Production is estimated at 576,000 tons, down 7 percent from 2020.

Last week was another rough week of weather for those of us hoping to finish the harvest. While most growers have their corn out of the field by now, many are waiting for just the right weather conditions to cut soybeans. When the weather does break, look for nonstop harvest activity and plenty of long days as farmers rush to bring in the rest of this 2021 crop.