Minnesota Corn Crop Healthy, Ahead of Schedule

While many of the nation's corn states are struggling because of the ongoing drought, northern states like Minnesota are doing very well, with the corn reportedly growing far ahead of the normal schedule for the state.

At this time in the state the corn height is usually about 12 inches tall at best. But on average it's about 23 inches tall at this time, and will be much more by the Fourth of July, where it's usually not even at the 23 inches it now stands. With a couple of weeks left till July 4, it could reach 30 inches, or maybe even a little higher.

Most of this is based upon Minnesota farmers planting their corn seed earlier than in the past, which accounts largely for the increased growth. The weather has cooperated well too, helping to boost growth.

What's even more important is farmers in Minnesota have planted the largest amount of corn in the history of the state, and so the harvest should be bountiful.

At this time it's too early to know whether that's good or bad news, as the drought in other areas of the country are positive for the price of corn, but the weak global economy, along with strong yields in parts of Brazil could end up with a supply glut, which would over the year put downward pressure on the price of corn.

Interestingly, approximately 17 percent of corn farmers in Minnesota are now concerned about there being too much water, as the region has been drenched lately, according to the USDA. Others say the moisture is exactly what they need.

At this time the USDA says that about 82 percent of the corn crop in the state is in good or excellent shape.