An unwelcome event -- the first snow of the season -- is on track for the northwestern Corn Belt Tuesday, Nov. 5. There's a good chance that a swath from eastern South Dakota through south-central Minnesota will get from three to five inches of snow -- and in south-central Minnesota, that amount goes up to six-plus inches. This is all part of a definitely wetter trend that the northwestern Corn Belt has going on through mid-November. This trend will certainly cause some slowdowns in harvest and, when added to the propane shortage that has developed in Minnesota, northern Iowa and the Dakotas, there are bound to be some headaches in getting crops all in this season.
How much of an effect is this having on the market? Not much, with the trade's focus being on the size of the crop and not on regional issues with harvest. Expectations for progress Monday afternoon are for corn to be about 75% harvested nationally, and soybeans 90%. So, with that amount already in, problems that are considered to be regional in nature do not usually get much traction in the overall grain market.