With the U.S. harvest still four months away and about a third of Midwest fields unplanted, unusual weather may yet limit output. In each of the previous two years, the USDA’s forecasts in June were higher than the final tally seven months later.
Wet, cold weather the past two months from North Dakota to Illinois is increasing risk of lower yields, said Gregg Hunt, an analyst at Archer Financial Services Inc. in Chicago. Planting is off to the slowest start since 1996, with 71 percent complete on June 9, compared with a five-year average of 84 percent, USDA data show. Unless there is drier weather farmers may decide to leave fields fallow, he said.