Weekly Outlook - Beyond the October Production Forcasts for Corn and Soybeans

At 10.706 billion bushels, the USDA’s October forecast of the U.S. corn crop was about 100 million bushels larger than the average trade guess and about equal to the September forecast. The October soybean forecast, at 2.86 billion bushels was about 90 million bushels larger than the average trade guess and 126 million larger than the September forecast. Prices of both commodities increased immediately after the forecasts were released.

The positive response to what appeared to be neutral to negative production forecasts suggest that the market had priced in the risk of even larger production forecasts. In addition the USDA forecast year ending stocks of both commodities to be near pipeline levels, and smaller than expected in the case of corn. In the case of soybeans, the projection of marketing year consumption was increased by 150 million bushels. Some interpreted the increase as a reflection of stronger demand than had been previously forecast.  <Read More>

In the Grow - Q & A

Q. My mimosa tree has split down the middle of the trunk. Is there any way to save it? Or should I just take it down?

A. Split trunks are a common problem with multi-trunked species such as mimosa. Split trunk is a significant factor for a "risk tree," if it is sited where damage to humans, pets or property could occur when, or if, the tree falls. Cabling and bracing can be completed by a certified arborist to help provide structural support, but the split will still be a weak point in the tree, susceptible to disease, insect pests, decay and further splitting.  <Read More>

Weekly Outook - Corn and Soybean Prices Searching for Support

December 2012 corn futures declined by $1.44 (17 percent) from the high on August 10 to the recent low on September 28. That contract has managed a recovery of about $0.40 so far this month. November 2012 soybean futures declined by $2.85 (16 percent) from the high on September 4 to the low on October 3 and have rebounded about $0.45 since then.

Prices over the past two months for corn and the past month for soybeans appear to be in the classic “short crop, long tail” pattern where prices peak early in a year of sharply lower production and then decline in the post-harvest period as the smaller supplies get rationed and production rebounds in the following year. A change in the trend of lower prices will require an additional supply shock or evidence that supplies have not been sufficiently rationed.  <Read More>

Video - Recovery of Your Lawn After a Stressful Summer

Many homeowners with drought-damaged lawns have decisions to make about how to repair them after a stressful summer. Purdue turf grass Extension specialist Aaron Patton gives advice and information on reseeding and fertilizing to help your lawn recover.

For addtional drought management and recovery information, be sure keep checking the Purdue Drought Information website.