Hail Storm Destroys MILLIONS of US Corn and Soybean Bushels

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0:00 Hail Damage / US Weather
2:40 Drought Monitor
4:55 China Demand Problems
6:30 Ethanol Production
7:34 Export Sales
10:10 Flash Sale
🌾📈 Agricultural Sector Update: Weather Impacts, Crop Conditions, and Market Movements 🌦️📉
Welcome back to our channel where we delve into the latest developments affecting the agricultural sector. Here's an overview of recent weather events, crop conditions, and market dynamics:
Severe Weather and Crop Damage
Recent hail storms across Nebraska, South Dakota, Kansas, Iowa, and Minnesota have severely impacted corn and soybean fields, with south-central Nebraska experiencing significant losses. Hurricane Beryl's landfall on the Texas coast has brought hurricane-related rains northeast, potentially affecting Oklahoma, Arkansas, Missouri, Illinois, Indiana, Michigan, and Ohio. These conditions may help alleviate some drought issues but could also pose risks of flooding and additional crop damage.
USDA Drought Monitor and Crop Conditions
The latest USDA drought monitor report shows mixed conditions across the Corn Belt and High Plains. While areas like northwest Ohio and central Iowa saw improvements due to recent rains, southern Ohio and parts of Illinois experienced worsening drought conditions. The overall impact continues to be closely monitored, with rainfall patterns playing a critical role in crop development stages.
International Corn and Soybean Market Trends
The USDA's office in China has revised down its forecast for Chinese corn imports to 20 million metric tons due to a bumper domestic crop and increased imports of substitutes like barley. Meanwhile, US ethanol production has seen an uptick, reflecting slightly increased gasoline demand, which could influence corn markets given ethanol's significant corn usage.
US Crop Export Sales
Recent US crop export sales figures were disappointing, with corn sales falling significantly below expectations and soybean sales also at the lower end of forecasts. These trends highlight the challenges facing US exporters in the current global trade environment, where competition and domestic supply issues in importing countries can quickly alter demand dynamics.
Market Response and Future Outlook
The agricultural market is responding to these developments with caution, as traders and farmers alike navigate the complexities of weather impacts, international trade shifts, and domestic policy changes. The next few days will be crucial for assessing the full impact of the recent storms and adjusting market strategies accordingly.
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For detailed insights into these issues and more, make sure to subscribe to our channel. We bring you the latest information to help you understand the nuances of global agriculture and market trends.
💬 Join the Conversation:
What are your thoughts on the recent weather events and their impact on crop conditions? How do you see the changes in Chinese corn imports affecting global markets? Share your views in the comments below. Your feedback is essential for our discussions.

[@lilblackduc7312]

When I was born 65yrs ago, my family was ALL farmers. So, I hate to see the hail report. Thank you for another good show...🇺🇸 👍☕

[@NebraskaPrairieLady-ps2dt]

Rural South Western Nebraska here (Cheyenne County). Unbelievable hail damage to corn and soy beans and my garden is a complete loss. I've never seen anything like it. Thank you for your reports.

[@louisfourie7756]

Hail storms is a natural phenomena when it appears pray that it disappears do not accept all things that happen

[@NebraskaPrairieLady-ps2dt]

@@louisfourie7756 Amen to that.

[@don66hotrod94]

Scattered rain over the holiday weekend. Corn is anywhere from 4 inches to 4 feet high. Still impossible to make dry hay. NE WI.

[@loboalamo]

I haven’t seen hay cut here yet. Too wet. WC Mn

[@donharper7759]

Far as I’m concerned the USDA needs to be restructured

[@davehughesfarm7983]

Yes

[@maryfries2147]

​@@davehughesfarm7983all government agencies are a waste and corrupt

[@CatMontag]

NC IA hail event probably 5 miles wide 20 to 30 miles long. Some beat up crops and some completely stripped.

[@michaelleffler5219]

Here in South Central NE. Devastating.

[@Maynardmatt]

This growing season feels like “death by 1,000 cuts”… I guess once the combines hit the fields we will know how much damage is out there!

[@user-kc9xu9tm3n]

Northern Missouri crops are looking Great!

[@allenwalters9068]

Got east central il week and half ago, some corn destroyed, and beans, beans were replanted the 1st of July

[@robburkett1671]

Northern Ohio been very wet since April 32" rain since then crop conditions all over the place . Southern half of state been dry.

[@Emmy-J]

I hate to jinx it but where I live in Michigan I can say we have had the perfect weather except maybe for some higher temps than normal early in the summer. It rains some and then sunny. Its been humid at times like August weather but Thank God for AC. I usually have a small garden but not this year due to plans of moving. Last year the hail storm we had destroyed several of my plants that were doing so well.

[@orange2sweet673]

I’m in Michigan too. I had very little hail when we had that storm around here. but some friends and a well know Farmers market lost a lot. my friend a few miles from me had at least 6 inches of hail. Yes, we have been lucky with our weather compared to other states. ❤

[@user-mx5wb4ib2h]

So sorry for the farmers who lost their crops. Are crop prices are so low how can we not sell them.

[@johnpflum4481]

East central Illinois,no hail on our farm, not much rain either.

[@ryanmarkey5012]

We got 1 inch total last week. That is essentially all we have gotten in last 30 days. I have seen some green snap in corn. Corn is still rolling up by 11 am.

[@ryanmarkey5012]

Southwest ohio

[@loboalamo]

Crops asking for water. Here there is plenty of water filling pot holes in the fields, didn’t drain fast enough. The ground is saturated in low lying areas. On the uplands there is still plenty of moisture. Some plantings are good, some not so good. For both corn and soybeans. I wonder how sugar beets, wheat, oats and potatoes are doing.

[@ecmnfarm2265]

The usda crop estimate discovery has been a sham for the last 20 years. It's not about the real crop progress, it's all about the funds and the ai algorithms now.

[@lfeco]

Lot's of good information. Well done folks.

[@davezalinko1354]

Harvest is suppose to be the most exciting time of the year on a farm. The way this yr is going, personally if I got hailed out there would be no tears shed. Prices are horrible, and only going down further. Between crop insurance and hail insurance if I got wiped out, I would make way more then taking a crop off. Net return is what it’s about and at this point that number will be very low. Sorry working for minimum wage doesn’t work for me.

[@c.d.7742]

Exactly! If commodity prices stay where they're at, the profit margin will be minimal at best. Do you like working for nothing?

[@mikeboettcher2547]

Be careful of what you wish for. I've been hit with hail and it doesn't only damage the crops we've had to replace roofs on two houses and machine shed and other damage. Yes insurance pays but not all of the costs.

[@jackbarry9469]

Corn still good here North East MO fingers crossed 🤞. It just rained like 3" but havent seen any wind or hail damage. Sorry for those of u who took losses👎

[@GrainMarketsandOtherStuff]

Welcome back! Were crops in your area impacted by the weekend hail storm??

[@OldMiner-wj6rr]

Here in southern Nevada my crops of three tomato plants burned to a crisp!

[@JustinBarkman]

I would also argue based on what I'm looking at here we have 4-5ft tall corn coming in tassel. That drought map shows the D 1 area going clear from here to south central Illinois that's quite a scope of ground where the top end yield is gone

[@tsclly2377]

The hail will be good for the local aquifers.. most (like all) of that corn is irrigated.

[@lynwessel2471]

Only 1.3" here in southern MN last week after averaging 2"/ week in May and 4"/week in June. Getting so "dry" might get the beans that are left sprayed this week. (3 weeks late)

[@levicitrowske9173]

Wc & S Minn SD Iowa Soooo Much Yellow corn, and it won't snap out of it.. not to mention PP acers. also some very Good looking corn on lighter ground.

[@anandasmom]

Wow! I am new here. What a blessing. You're doing a good work and proficiently. I thank you.

[@scottrayhons2537]

Flooding rains in NC Iowa again on 7-7-24

[@Luke-br1hr]

First good rain in about a month. Four tenths of an inch. Local basis doesn't care

[@JustinBarkman]

No rain in South Central pa. Hopefully we get some rain from the hurricane

[@6by6by6]

Farmers always live or die on the fortunes or misfortunes of other farmers in other regions or countries.

[@jrowan99]

We were hit by the hail in southwest Kansas. This is the largest area of hail damage I have ever seen. It spreads across multiple counties and is a wide swath.

[@kimm1780]

Of course they did. Look up Ben Livingston.

[@jimmyglen]

Good morning

[@JustinBarkman]

I see we are in D 1 drought as well.

[@curtisbrendemuhl-qs4su]

Most PP we have ever had and corn and beans are very behind normal. RRVN

[@frankieboy2417]

Glyphosate is banned in Europe and China does use it but stated they would be limiting residue limits in all imported grain. Since farmers are businessmen I would think they would be designing their businesses to answer their customer's wishes.

[@ground752]

Too easy to make weather , so thanks for deliberate starvation globally

[@EricCarlson-bz2pt]

I watch them seed clouds everyday.

[@maryfries2147]

Its not seeding its polluting

[@EricCarlson-bz2pt]

@@maryfries2147 Ya, they build solar panels to capture sunlight, and then block the sun with airplane piss.

[@tbabbittt]

These are not US crops. The product is owned by multinational corporation s. I'm never going to bat for their losses.

[@davidkottman3440]

I'm on the hook for producing or not producing a crop on my farm and most acres are farmed by independent farmers like myself. The corps come in with financing and contracts, but it's a rare farmer who's isolated from the risk of production.

[@tbabbittt]

@@davidkottman3440 my concern is that some voters have nationalized industries like oil and food production in their heads. They have put forth the false idea that the president is responsible for the free market. The only thing that is ours (US) is the taxes that are generated. I'm tired of multinational corporations operating inside the US and producing products for their own profit as a national gain.