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Market Commentary

Afternoon Comments 05/21


The weekly Crop Progress report released Monday afternoon obviously depressed corn futures Tuesday, since the indicated surge in U.S. corn plantings easily exceeded expectations. Concurrent developments in the financial markets, particularly equity index slippage and U.S. dollar strength may have weighed upon prices early, but late mitigation of those moves seemed to take pressure off of commodities. Talk that recent old-crop price strength had sparked active farmer selling apparently weighed upon nearby futures. July corn fell 9.5 cents to $6.40/bushel Tuesday afternoon, while December ended the day unchanged at $5.2025.
Market Info

Drought stress and corn pollination

Chad Lee, University of Kentucky   |   July 2, 2012
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Drought-stress corn in western Kentucky. Photo: June 25, 2012. Most of western Kentucky is in a severe drought status and that severity is likely to spread to central Kentucky on the next report. Most of the corn is going through tassel and pollination, which is well ahead of the five-year average, and the worst possible time to experience temperatures in the high 90's F (35 C or more). The high temperatures and low humidity dry out pollen and silks faster, both of which need moisture for successful fertilization of the ovules.

In addition to the need for moisture for pollination, the corn plant simply needs more water. Corn around tasseling and silking demands about 0.3 inches (7.7 mm) per day. Most of our fields were at a water deficit prior to tasseling and the water deficit is increasing. The lack of water could lead to the abortion of kernels.

Dry conditions prior to tasseling often result in the tassel emergence and pollen drop before silk emergence. In many cases, the resulting ears may have a few kernels develop near the base of the ear but very few to no kernels near the tip of the ear.

In other cases, the tassels may drop pollen before they are fully emerged from the whorl. If the silks are emerged, pollination may occur. If too much of the pollen is trapped in the whorl, then pollination will suffer.

Corn yield losses should be expected in most of these fields. The potential number of kernels was beginning to be determined somewhere around V8 growth stage. As the dry weather stressed the corn crop, the potential number of kernels dropped. Expected complications with pollination increases the probabilities of lower yields.

In some of the fields exhibiting the most severe drought stress conditions, farmers may want to look at salvage opportunities such as feeding the corn as a silage. Proper ensiling requires the proper whole plant moisture (around 65 to 70% for most ensiling conditions). This season, whole plant moisture is more important than crop stage to deciding when to harvest.


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