Iowa farmers’ corn harvest will be smaller than in 2009, but will require less time and money on drying, reports the Des Moines Register.
The corn and soybean harvests are very nearly over, according to the USDA, thanks to very dry conditions from mid-September through last weekend. The harvest is complete about a month ahead of time.
Corn is averaging 15 percent moisture, the same level needed to qualify for No. 2 Yellow status and full price, which is good news for farmers and livestock producers.
A year ago, wet weather during harvest brought in a crop that in many cases averaged more than 20 percent moisture, requiring expensive grain drying and causing mold problems in the corn which turned into a big headache for livestock producers.
Analysts are concerned about the effect of higher prices on U.S. grain exports, particularly corn. Corn for December delivery rose 10 cents per bushel Monday on the Chicago Board of Trade, to $5.69.
Analyst Arlan Suderman of Farm Futures Magazine noted declining export figures in recent weeks and said "this month's export data continues to hammer home the fact that prices are just too high, at least for this time of year."
Corn prices have risen more than 65 percent since June on forecasts of a U.S. crop as much as 7 percent less than in 2009 and also by the fall of the dollar, which makes U.S. products cheaper in international trade.
Source: Des Moines Register