Extended dry spell speeds Missouri crop harvest

JEFFERSON CITY -- The state's farmers concluded their harvest of corn, soybeans and sorghum more than a month ahead of schedule, according to the Missouri Agricultural Statistics Service.

"Row crop harvest and winter wheat plantings are all but complete as of this week in Missouri," said Gene Danekas, director of the National Agricultural Service's Missouri field office, upon the report's release. "The extended dry spell has propelled the harvest to a near record pace, but has delayed the emergence of next year's winter wheat crop."

Corn was 98 percent harvested as of Sunday, MASS said. This compares to an 83 percent 5-year average, and 60 percent at this time last year. Soybean harvest was 97 complete, 18 percentage points ahead of the norm and 37 points ahead of last year.

With 66 percent of topsoil pegged as "short to very short" of moisture, dryness is also fueling a decline in pasture conditions with 30 percent of pastures cast as poor to very poor condition.

Danekas noted that some livestock farmers in southern counties are already feeding hay.

Prices of nearby futures contracts for corn and soybeans dropped Monday at the Chicago Board of Trade. Corn closed down 2 ½ cents at 5.85 ¼ per bushel. Soybeans shed 9 cents to $12.64 ½ cents per bushel.

A market recap provided by CBOT suggested that traders were evening up their positions ahead of the crop production report scheduled for release by NASS Tuesday morning.

The recap cited predictions of a 1-2 bushel per acre reduction in the average U.S. corn yield.

Despite the down day on the market, crop prices have been exploding.

Today's closing price for corn is 22 percent higher than the average price paid for corn in October set in preliminary figures from the National Agricultural Statistics.

October's average of $4.78 is up 70 cents from the average September price and $1.17 higher than the October 2009 average.