05-07-2013 07:40 AM
Late start but it's gonna get in.
Planting progress not good but this week will be key.
Corn giving up its overnight gains as traders get to their desks in 73 degree weather. While we have an extremely long way to go and the crop isn't even in the ground yet, there will be pressure on trade today.
Australia surprise rate cut gives a boost to European stocks. Our markets are very quiet as there is no new significant news as we drift to either side of unchanged.
10 year yields getting a boost and ramping up towards 1.80%. Currently at 1.78% after having plummed the depths to close to 1.60%. Makes you kind of feel like things are just fine. The jury is still out.
The VIX (fear index) is back to sleep as well under 13% and headed for sub 12%.
How are things running out in your fields? Would be interesting to get some feedback.
05-07-2013 07:51 AM
No one is in the fields here yet Scott. If we can get a couple of sunny, windy, warm days of drying, then perhaps by the end of the week. But, rain is in the forecast again for tonight.--50% tonight and 80% tomorrow. So, that will kill any drying this week. I would say this area is closer to 25-30% planted, though, as last week a lot of planters were going before the snow and rain event.
05-07-2013 08:06 AM
In ncia, if we get the predicted 1/2" tomorrow, the majority of the corn will get planted after that magical may 15th day.If we have drying days, missing the rain then of course it will be a little sooner. But the fields are soggy and a mud hole here and there. Im just wondering if the price drifts down and the crop is kind of mudded in, will there be that incentive to put on that extra #40 of N and strive to knock the yields out of the park like in a kinder and gentler spring with +$6 getable in the fall?
05-07-2013 08:27 AM
BA - of course that crop will get "mudded in", I mean . . . since when did a tenant ever care about compaction on land they do not own? I mean . . . it is all about getting that seed in the ground . . . so the creditors are protected by Federal Crop Insurance . . . isn't it? John
05-07-2013 08:28 AM
Clark, Union, Madison co's Ioway, planters were running last week some but many waited out this weather or had gone as far as the mud would let them. Still lots of black wet spots in the fields around here and rain on the way. No planting in this area till after the 15th with any moisture at all from the band of showers comng our way out of Ks.
I set out the forecast last week with 0% planted ALL still "in the bag" here in South Podunk Country. Little weeds are just two leaf and coming on strong. Nh3 is all on, just a fast shallow pass with the field cult and plant. BUT when?
05-07-2013 09:24 AM
05-07-2013 10:10 AM
Trust me shaggy I really wish the last 4 inces of rain equivilent moisture here had fallen about 100 miles NW of you Not 350 miles NE of you.
Here's a farmer ... look what he made.
05-07-2013 10:23 AM
A couple hours of sun could have me running later today (near Dayton) after getting .15" yesterday. North of 40 missed the showers and they were running all day yesterday up around Sidney and Bradford. Only 15 acres of corn left to plant for me. Others in my area are nearly half done. It is sunny right now, hope it lasts.
05-07-2013 10:27 AM