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 Continuing the theme from yesterday, day 2 results of the Pro Farmer crop tour showed very good corn and soybean yield potential in Indiana and Nebraska, as well. The tour put the average yield of the Indiana corn crop at 182.3 bushels/acre, well above last year’s tour estimate of IN of 171.2 bu/acre and the tour’s 3-year average IN yield estimate of 162.5 bu/acre. As was the case with OH, as well, the tour underestimated IN’s corn yield last year by a sizable 8.8 bushels/acre (actual yield 180), while their 3-year average yield is 5.2 bu/acre below IN’s actual 3-year average of 167.7 bu/acre. Anything similar this year would prompt ideas of the IN yield being somewhere in the 187-191 bu/acre range, above the USDA’s estimate of the IN yield this month of 186 bu/acre. For Nebraska, the tour put the average corn yield at 179.2 bu/acre, up significantly from their estimate of the NE crop last year of 165.4 bu/acre and the tour’s 3-year average yield estimate of NE of 163.1 bu/acre. Similar to the situation in OH and IN, the tour has considerably underestimated the NE corn yield in recent years, as last year’s actual yield of 181 bu/acre was a massive 15.6 bu/acre above the tour’s estimate, while NE’s actual 3-year average yield 181.3 bu/acre has been an even greater 18.2 bu/acre above the tour’s ideas. Using those deviations as guidelines and applying them to the tour’s 178.2 bu/acre estimate would imply the possibility of the NE yield this year being 195-197 bu/acre, proving support for the USDA’s current estimate of the NE yield of 196 bu/acre.

 For soybeans in Indiana, the tour found the average pod count at 1,312, up a solid 12.2% from last year’s tour count of 1,169 and 14.4% larger than the tour’s 3-year average count of 1,147. The USDA’s IN soybean yield estimate of 58 bu/acre reflects a 7.4% increase from last year 54 bu/acre yield and a 7.8% increase from IN’s actual 3-year average yield, implying that if pod counts are a valid reference point for yield potential, the IN yield may be higher than the USDA is estimating by 2+ bu/acre. Good rains of late certainly would appear to favor the potential for good pod fill. For Nebraska, the tour put the average soybean pod count at 1,299, up 14.8% from last year’s 1,131 and 9.0% above the tour’s 3-year average count of 1,191. The USDA’s 61.0 bu/acre yield estimate in the August 10 report reflects a rather modest 6.1% increase from last year’s 57.5 bu/acre yield and a 3.7% increase from NE’s actual 3-year average yield of 58.8 bu/acre. Similarly, the tour’s pod counts may imply the USDA’s yield ideas for NE are too low by 2-3 bu/acre, as well.

 A wire service poll of Brazilian ag industry participants indicated expectations for Brazil to plant a record amount of area to soybeans for the coming year’s crop, rising to 36.3 million hectares (89.7 million acres), up 3.2% from last year’s 35.15 million hectares (86.9 mil acres), as planting gets underway in September. The average idea of the coming crop size was 119.8 MMT, based on early yield ideas slipping from this year’s record, but would still be up slightly from 119.0 MMT this year.

 Ag consultant Agritel sees 2018/19 French soft wheat exports at 8 MMT, essentially unchanged from last year, while reiterating their estimate of the crop at 34.2 MMT vs last year’s 36.6 MMT. Additionally, they see Russian wheat exports at 31.5 MMT, down sharply from last year’s record 42 MMT and is solidly below USDA ideas of 35.0 MMT. The estimated the Russian wheat crop at 67.4 MMT (USDA 68.0 MMT) vs last year’s record 85 MMT.

 Germany’s farmers association DBV said they see the country’s winter wheat crop at 18.6 MMT, which was up modestly from their estimate in early August of 18.0 MMT, but still down 23% from last year’s 24.1 MMT. A German farmer cooperatives association, DRB, put crop ideas at 19.2 MMT two weeks ago. DBV sees Germany’s rapeseed crop at 3.3 MMT vs last year’s 3.7 MMT.

 Ukrainian grain traders have indicated the portion of this year’s wheat crop rated milling quality is thought to be around 45%, down solidly from last year’s 55%, as a result of the poor growing conditions this season.

ï‚· While still a mere drop in the bucket of China’s 500 million head pig population, a total of 20k hogs have now been culled as a result of the African swine fever situation. While the numbers impacted may be small, the impact from the situation could be larger as pig farmers are said to be increasing sales to slaughterhouses preemptively amid fear their operation may be impacted, which has pushed hog prices to the lowest level in three weeks and are more than 7% below year ago levels, putting additional pressure on operating margins accordingly. Weather Rains of .50-1.5â€+ fell across most of IN, MI and OH, as well as eastern IL, with conditions mainly dry elsewhere. Things will be mainly dry for today and tomorrow and then the next weather system will bring rains to most of MN, IA, WI, MI and western IL Friday and early Saturday with totals still expected to be in the .50-1.5†range, with some isolated heavier totals. Amounts elsewhere in the region look to be in the .50†range or less. The rest of the weekend looks to be mainly dry and then off and on rains across MN, IA, WI and MI through next week bring .50-1â€+. The rest of the region looks to be mainly dry for most of next week. Temps will run below average for much of the rest of this week, with highs in the 70’s in most cases and some low 80’s mixed in. Readings then look to warm into the 80’s by the weekend and then into the 80’s and some 90’s for early next week.

 
 

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