A round of scattered, strong thunderstorms earlier this week resulted in considerable hail damage to crops in some parts of Western Illinois.
David North, who is a producer and market advisor from Galva, said that the call is out for insurance adjusters after the hail pounded some area fields.
“Here, south of Galva, and then it dribbled on over toward LaFaytette, and then over to Toulon and down toward Princeville, we had hail Monday evening here,” North said. “Unfortunately, here, some of our fields south of Galva…I’m not an adjuster, and I’ve not had much experience with the more heavier damage in corn, so I’m not sure where to tell the listeners…I’m not sure what to say as far as what our damage is. But, we’ve got a quite a bit of corn that got shredded pretty good with hail.”
David said the only other damage to crops in our area this growing season was from a windstorm in June, but most of the corn stalks have recovered, although the ears don’t appear to be as good on those plants.
As for marketing what looks to be a big crop this year, David said any small rally that could take corn to the $4 a bushel level should be taken advantage of.
“To put it simply, I just think that we’re so oversold…we need a bounce in these grans, even if the funds or whoever — even if they want to sell this thing again, from a technical perspective, I just think we’ve been due for a bounce for some time,” North said. “We still think a rally for whatever reason is possible. You could see $4 December corn. If you do, you might want to sell some.”
David said that outside of a late-season weather event, he sees little hope for optimism that grain prices will rise substantially in the near future.