Unpredictable Future - Tuesday, 05 June 2012

I wish I had a crystal ball to see where the grain markets are actually headed several months down the road because right now the market swings back and forth with each financial news report out of Europe, every new long-range forecast for the U.S. and abroad, export numbers at home and around the world, U.S. Dollar fluctuations, crude oil prices and movements within the Funds and their positions on the Board of Trade, to name a few! How exactly do we market our crop to guarantee ourselves a profit?

 

Bill Biedermann of Allendale Inc. has a matrix study using the U.S.D.A’s planted acres compared to various yield potentials and what that COULD mean for corn prices.  They estimate that if the U.S. average yield hits 163 bu./acre the price of corn could go to $3.90/bu., a 159 bu./yield could carry a $4.30/bu. price and it could take an average yield of 150 bu./acre or less to generate a $7.00/bu. price!  The weather will play an instrumental role from in final yields and each week now the long-range forecast changes quite dramatically which confuses the trade as well as producers. At present  the National Weather Service is calling for warmer-and-drier-than-normal weather across the majority of the U.S. from June 6th – 10th.  Due to the limited rainfall over the past week several weather experts have expressed concern about the crop this summer.  China is also experiencing some problems with their crop but it is unclear if it will be bad enough to help spark a desperately needed rally in the grains. 

 

Every week I update you with the latest news in agriculture and upcoming expectations on where the market prices may be headed and why, according to the many sources I have listened to and trusted for many years.  Well, one of my personal favorite hosts, Mark Pearson, passed away over the weekend.  Many of you are probably dedicated listeners of AM 1040 WHO Radio’s “The Big Show” weekdays from 11:30 a.m.-1:00 p.m. and viewers of IPTV’s “Market to Market” on Friday evening and Sunday at noon and realized too what a significant loss this is to agriculture news and information.

 

 

CROP INSURANCE

Latest plant date for soybeans is June 15 for Iowa & June 10 for South Dakota and Minnesota.

Please sign up at your FSA office as soon as possible after planting in order to get your acres turned in on time.  Acreage reporting date is July 15;your acres need to be turned in before this date.  You will need to fill out and sign an acreage report and send along with copies of your FSA maps and papers.  Please send copies of all FSA papers & maps to us when turning in your acres.  You may want to ask for two copies when you sign up if you would like to keep one for yourself. 

Crop Insurance statements will be billed out on August 15th and due by the end of September

 

 

 

 

 

 

 

 

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