10-15-2013 10:45 AM
BUT ... 34 bushels worse than last year.
Which way yah all want to spin this?
That is the result so far in the corn fields @ the Hobbyfarm.
That alone based on last years sales = a $265.2 reduction per acre reduction in
Spending power. Then add in that $2.50/bu reduction in the price of what is being
Harvested and that = another farm purchase that will not happen next spring.
Kind of glad I'm not one of those dealers with a lot full of shinny new paint two rows deep.
10-15-2013 11:48 AM
Hobby wait on the price part of your equation. Just this morning my neighbor informed me. He wanted to get out of contract. Not because of price, but corn can be sold HM to dairy farmer. This area's corn is quite wet, in the 30's yet. The feed mill stated to him, we need your dry corn. But will let him out of the contract. I believe we will see some nice basis improvement.
10-15-2013 01:29 PM
10-15-2013 01:40 PM - edited 10-15-2013 01:49 PM
But that was accounted for last spring. A good crop or even a record crop has been "in the market" since last spring.
It is a good crop. The market has factored in a record crop.
Point now is which one would you rather own til bills come due next summer, more corn than last year or less cash than last year.
Which one has some upside potential? And which one do you have the most control over?
Last year is very important and will be for some time ----------- improvements made in production as a result of those profits will be with us for a while, as well as damage done in cattle and drought areas. Rebuilding losses take time as well.
The distruction of the middle class in farming continues. And real farm numbers will go down again, just as sure as the inflation in equipment costs.
10-15-2013 05:00 PM
Wow $685 per acre gross revenue on almost the same input costs doesn't count?
Last year does not make a difference?
We live in different worlds.
I'm guessing more live in my world than yours.
Glad I put some away for this outcome.
I'll bet many did not or could not.
Are you a congress-critter?
10-15-2013 07:42 PM
10-15-2013 09:54 PM
Around these parts there is corn off already for the premium paid last week for corn immediatley, Think the moisture was around 30%.
We started yesterday at 25% to fill a dryer bin which will be fed on farm.
Neighbour is combining today and he was pushing custom operator to get there soon because he thought it was going to get too dry for his HM which I think he likes around 27-28%.
First indications are our yield will be about 1.5 t/ha better than last year which will put it a little better than 5 year average.
Ontario was the cheapest corn price in North America and it will remain so again this year with good yields and corn to export to set price.
Wisdom is knowing not to put it in a fruit salad.
10-15-2013 10:07 PM
Canuck 2, not everywhere in Ontario is that great. First field of 92 day corn 148 bu/ac. 2nd field not done yet, but somewhere between 130-140.
Talked to a sales manager for one of the seed companies, he said it would not surprise him if the Ontario yeild came in at 140 bu/ac average! Now that was a shock to me! But after the first two fields for the early market. I am not as shocked.
Lot corn ground hard hit by too much rain in Ont. Also the drought area's like ourselves for the 2nd year in a row.
We will know soon! Good luck with harvest.