Unseasonably hot U.S. weather is accelerating corn and soy crop maturity after months of concerns that lagging development could drag down yields or put some late-planted acres at risk of damage from frost, agronomists and analysts said.
Farmers around the Midwest are racing to harvest crops under mostly clear skies and temperatures more indicative of mid-summer than early autumn, with highs ranging to 90 to 100 degrees Fahrenheit speeding up in-field grain drying.
Cash bids at several elevators and processors around the Midwest weakened in anticipation of an influx of grain in the coming days and weeks, while costs for shipping supplies by barge to Gulf Coast export terminals surged on Friday.
The unseasonable heat is almost certain to add bumper bushels to an already burdensome global grain supply that has weighed on crop prices and pressured farm incomes for four years. The strong finish to the U.S. growing season comes after a cool, wet spring stalled planting and mild summer weather slowed crop development.
Read more: St. Louis Post-Dispatch