Weather Impacting Crops

I'm Greg Martin with the Market Line Report for June 19, 2014.

The lack of rain in many areas has been an issue but more rain has been falling in some drought stricken areas. But some rain has been falling in the midwest. USDA meteorologist, Eric Luebehusen says it might not be enough.

LUEBEHUSEN: We had locally heavy rain over the last seven days across portions of the Dakota's southward into Nebraska and Kansas. That rainfall was in excess of 4-inches and actually we saw some 4-inch totals in western portions of the corn belt. In Kansas where the winter wheat is too far along to benefit, that is obvious in the Crop Condition report from June 15th where 63% of the Kansas winter wheat was still rated poor to very poor. If you take a look at their corn crop, only 9% of the corn crop is rated poor to very poor. Actually half, 50% is rated good to excellent.

Now taking a look at some prices from yesterday:

Chicago September Wheat ended up 5 and 1/2 at 5-96 and 1/4.

September corn ended the day up 1 and 1/4 cents at 4-35 1/4.?Portland prices for soft white wheat were up 5 1/4 to down 3 at mostly 6-98.

White club wheat prices were up 5 1/4 to down 3 at mostly 7-43.

Hard Red Winter wheat with 11.5 percent protein prices were up 30 and 1/4 cents at mostly 8-03 and 3/4.

DNS wheat with 14 percent protein prices were up 8.50 to 23.50 at mostly 8-49 and 1/4.

August live cattle were down 70 cents at 145-02 and half.

August Feeder cattle down 3 cents at 204-85.

July class III milk was down 3 cents at 21-71.

I'm Greg Martin and that's Market Line on the Ag Information Network.