Corn face critical 2 weeks with clock ticking

Just a quarter of the U.S. corn crop normally planted by this time of year is in the ground, but this could still be a bumper crop if muddy fields dry up and the weather cooperates.

“These next two weeks are critical,” said Randy Mittelstaedt, director of research at R.J. O’Brien. “As long as it’s not staying wet every day, things are going to get better. It might not be ideal, but it’s better. There’s some optimism that it’s finally going to pick up over the next couple of weeks. … The big bull story has been planting delays, and they’re getting better. It’s been either snowing or raining for the last three weeks. We knew it was going to be slow.”

The the cold, wet spring’s effect on crops is particularly difficult for farmers. What were expected to be record yields last year were sharply reduced by last year’s drought.

CNBC

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