• Post to Your Wall.
 

Rabobank: Drought not as bad as 1988, yet

Ag banker says crop conditions are still better now than back in 1988. Nearly a third of Illinois is now under severe to extreme drought conditions
Compiled by staff 
Published: Jun 28, 2012
Unless Midwest weather improves in coming weeks, CBOT Dec corn could hit $7.50 and even challenge $8 in the months ahead, Rabobank says.

The ag bank cut its national yield projection to 154 bushels/acre, down 12 bushels from what USDA has estimated. Still, while this appears to be the driest June since 1988, Rabo says not to draw too many  comparisons, at least not yet, as crop ratings in 1988 fell much more precipitously than this year.

FarmWeekNow looked back at previous drought years and checked Illinois corn condition (good-excellent) ratings for this week in June.  Here are the results:

2012:  37%
2005:  32%
1995:  48%
1988:  19%
1983:  80%*
1980:  91%*

*In 1980 and 1983, hot temperatures and dry conditions during July adversely impacted crop conditions.

Permalink: Click here

Comments
Read comments from others and share your own thoughts.
Please provide the answer to the following question:

 = 
 
Search this site:   

Read More Stories
Cash soybean basis levels fall for third day
Some soybean processors are beginning to price beans out to the August and November contracts.
Read this story

Senators reject efforts Tuesday to change Senate farm bill
The Senate will resume debate today on a five-year farm bill after a day of action Tuesday that included lawmakers rejecting dueling amendments over the Supplemental Nutrition Assistance Program (SNAP), as well as working through other amendments.
Read this story

Southern Illinois wheat crop in generally good shape
Tour participants say they expect the state's winter wheat crop to average 61.6 bushels per acre.
Read this story

   
IAITC adapting to meet new math, science, English standards
Southern Illinois wheat crop in generally good shape
New class selected for Cultivating Master Farmers
Senators reject efforts Tuesday to change Senate farm bill
Cash soybean basis levels fall for third day
Illinois farmland values keep going higher
FarmWeek for May 20
NASS will survey Illinois farmers in June for major reports
Rainy week ahead for Illinois farmers
State treasurer to sponsor youth ag photo contest
Top 50 Tags
   
iNet Solutions Group   Powered by iNet Solutions Group   ©2013 All rights reserved.