Commodity Insider, May 18, 2017

CROP PROGRESS

Big gains in planting last week, thanks to ideal weather in the Midwest. Overall, corn and spring wheat are now slightly ahead of schedule and soybeans are right at average. The upper Midwest has had good follow up rains this week which has the corn "leaping out of the ground" as one observer described.  

 Source: USDA

Source: USDA

YIELD ESTIMATES

Gro Intelligence has created a new openly-available crop yield forecasting model. You can see it here. As of May 12, Gro was predicting a US corn yield of 167.85 bushels/acre, down from last year's final yield of 174 bu/acre. 

POSITIVE WEATHER OUTLOOK

Latest temperature and precipitation forecasts for summer are looking pretty sweet for the Corn Belt...

 Source:  NOAA

Source:  NOAA

 Source: NOAA

Source: NOAA

DEAL OF NOTE

  • Large consumer packaged goods company Church & Dwight has acquired Wisconsin-based bio-science startup Agro BioSciences Inc. for $75 million, plus an earnout of up to $25 million based on future performance. The owner of the Arm & Hammer brand wanted Agro BioSciences for its lab-based rapid development technology and hopes to bring more high-demand probiotic products for poultry, cattle and swine to market in a shorter period of time.

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