061002.pdf

Delayed planting in the eastern corn belt may impact yields and prices for the 2002 crops, with 3.7 million acres of unplanted corn and 7.8 million acres of unplanted soybeans in Illinois, Indiana, and Ohio as of June 2nd. Historical data suggests that delayed corn planting can reduce national corn yields, but the impact of summer and early fall weather is more significant. The USDA's initial yield estimate of 138 bushels per acre may be reduced by 4-5 bushels due to late planting, but yields could still fall between 122-144 bushels per acre. Weather conditions, such as a moderate summer with normal temperatures and higher-than-normal rainfall, will be crucial in determining final yields. Price patterns in delayed planting years tend to show a smaller drop in new crop futures prices, encouraging holders to delay pricing new crop corn and soybeans until summer weather patterns become more defined.