While many midwest Americans have embraced the record breaking cool summer(Indiana coolest July since 1895) along with heavy rains, a lot of corn farmers are nervously awaiting the next sixty days in the pollination process of their corn harvest.
Early this month I blogged about Soybean/Corn numbers but more specifically this point
Heavy rains in the cornbelt in June(beginning of pollination) have mostly meant lower yields come harvest.
I even e-mailed an investor July 12th on the East Coast this point on the corn yields with all the rain and cool weather the area has received:
One corn follower said the very wet condition in the cornbelt occuring right when pollination takes off in June has always tilted towards lower yields in the last fifty years.
Now a few weeks later, Indiana Economic Digest published a story of farmers showing the wear of cool/wet weather affecting their corn crops. You can read the story here for full details but will quote some of it for quick reference.
Purdue University corn specialist Bob Nielsen said the cooler temperatures that delayed planting and have continued into the July growing season
“We just had way too much moisture here,” Sutton said. The result is variable heights in corn and depleted nitrogen. “The nitrogen deficiency causes the brown bottoms. … And, with less heat, the corn thinks it’s July 4th.” Sutton said a St. Louis, Missouri-based agronomist his family retained told them, “We have the worst crops in the nation.”
Lower yields than expected will ultimately drive up the price of corn. The pollination process of corn is a wait and see game. Last year ten days made the difference on record number corn/soybean harvest that developed in August. This year may prove a little later.