MT. JULIET, Tenn. (DTN) -- Corn and soybean planting may be progressing ahead of the five-year average pace, but averages don't tell the whole story. There are still areas facing issues, even if that gets glossed over by the broader narrative of potentially record crops.
On May 23, DTN hosts its next Ag Summit Series event, called Crop Updates from the Field. During this free virtual event, farmers from Illinois, Iowa, Minnesota, Ohio, Nebraska and Colorado will weigh in on how planting is going and the challenges they face. Some have already put the planters back in the shed, while others are weighing the pros and cons of replanting.
"One thing the Series does is give us a chance to point out how much events can change in a short time," DTN Lead Analyst Todd Hultman said.
At DTN's first Ag Summit Series event last February, Hultman discussed why he thought the seasonal highs had come earlier than normal, advising farmers to make some new-crop sales.
The markets have moved lower since then and picked up speed following USDA's May World Agricultural Supply and Demand (WASDE) Report, which painted a picture of record corn and soybean crops pushing stockpiles back into surplus. New-crop futures contracts dropped below psychologically important levels -- $5 on corn and $12 on soybeans -- earlier this week. (https://www.dtnpf.com/…)
Hultman will offer an updated look at the grain markets during Tuesday's event.
DTN Ag Meteorologist John Baranick will also be on hand to offer updated insights into the development of an El Nino weather pattern, which is generally favorable for crop development. He'll also share DTN's long-range weather forecasts looking at growing conditions during corn's critical pollination period and soybean pod fill.
One thing that's different than February's Ag Summit Series event is the addition of an optional Zoom call at the conclusion. This informal discussion will give farmers and attendees a chance to share what growing conditions are in their part of the country.
The program begins Tuesday, May 23, at 8:30 a.m. CDT. We understand if you're too busy to attend live. It will be available for replay for 90 days following the event; however, you must register before the May 22 deadline to gain access. Registration is free, and you can find more details here: www.dtn.com/agsummit.
Katie Dehlinger can be reached at email@example.com
Follow her on Twitter at @KatieD_DTN
(c) Copyright 2023 DTN, LLC. All rights reserved.