Farms.com Home   Ag Industry News

2016 Corn Belt Crop Tour: Illinois

Third state in a 12-state tour

By Diego Flammini
Assistant Editor, North American Content
Farms.com

Chief Commodity Strategist for Farms.com Risk Management Moe Agostino and his team rolled into Illinois as the 2016 U.S. Corn Belt Crop Tour continues to visit farms and farmers throughout the American Midwest.

Like Indiana and Ohio before it, corn fields in Illinois are suffering from a lack of moisture.

"The next two to three weeks is critical," Agostino said. "(Crops) are going to need a drink soon. If (they) don’t finish strong and don’t get some moisture in August, you can be down to 150 (bushels per acre).”

Farmers are echoing the need for rain.

“We’re really dry,” said Brian Bradshaw, a cash crop farmer from New Salem, Illinois. “We need (rain) in the next 10 to 14 days or we’ll really be toast.”

When it comes to soybeans in Illinois, the fields seem to be holding up despite the lack of rain.

“We look pretty good,” said Cara Meteer, District Sales Manager with Great Lakes Hybrid. “I think beans prove their worth in a year like this with all the heat.”

Overall, Agostino said he’s impressed with crop status in Illinois.

“We saw a lot of tasseled corn, more than we saw in Ohio or Indiana. I think we are going to have to rate this crop (including beans) at 8.5 or 9 out of 10.”

Be on the lookout for Moe and his team as Crop Tour makes its way into Missouri.

If you’re a farmer in Missouri or Wisconsin and want Moe Agostino and his team to stop at your farm, fill out the volunteer form online.

You can also follow the tour on social media using the hashtag #cornbelt16.


Trending Video

Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.