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ECIN
Senior Advisor

300 Mil and Mounting

This was from a News conferrence Yesterday - I'm surprised that it was not a higher amount of crop loss - but then again - this was a guess from Chris Hunt -  I will agree with Mr. Hunt - Yes - we did start off well above average - boys - I had ( key word 'Had ' )some of the prettiest corn - Now it's in the running for the ugly chick of the year award !  Another 1.9 yesterday and last night - early moring - just North of us - 4.5 inchs common - I wonder if "Time" is still working on his - Ark - Smiley Happy

 

INDIANAPOLIS, Ind. - Torrential rains and resulting flooding have destroyed as much as 5 percent of Indiana's corn and soybean crops and potentially have caused about $300 million in crop damage since the beginning of June, Purdue Extension economist Chris Hurt said Friday (June 26).

"We went from a well above-normal crop to a very discouraging, below-normal crop," he said at a special news briefing at the Indiana State Fairgrounds. "This was a very devastating period."

He expects the losses to continue to mount at least over the next few weeks as more rain is forecast.

Hurt said grain prices were starting to increase as the extent of the crop damage became apparent. But the higher prices could be offset by reduced yields and increased expenses from replanting flood-damaged fields.

 "There are very major reasons for concern," Hurt said.

Michael Langemeier, an agricultural economist specializing in crop systems, said about 80 percent of the state's corn and soybean acreage was covered by crop insurance. Although it is too late to consider replanting corn, soybean farmers could decide to start over with reduced insurance coverage. During a late planting period that ends July 15, coverage drops 1 percent per day.

Langemeier said farmers need to do a cost-benefit analysis before deciding whether to replant.

"The main things farmers need to consider is what additional expenses I will incur and compare that to the additional revenue," he said.

Julia Wickard, state executive director of the Farm Service Agency, said Indiana has not yet applied for federal disaster assistance.

"We certainly know that our farmers across Indiana are experiencing unprecedented rainfall," she said. "These flood events have left damage and heartbreak behind."

flood soybeans

A row of recently planted soybeans is surrounded by water in a Tippecanoe County field flooded by frequent rains over the past two weeks. (Purdue Agricultural Communication photo/Tom Campbell) 
Download Photo

 

She said FSA officials were collecting data and assessing damage in the hardest-hit parts of the state. To qualify for disaster assistance, such as low-interest loans, a region has to show at least a 30 percent loss in production.

"We are ready to take on this challenge that will probably be confronting us as we move forward," she said.

Ken Scheeringa, associate state climatologist, said the region's unsettled weather would likely continue for at least the next month, with conditions cooler and wetter than normal.

"Even though there is a very good chance for above-average rainfall, I am hopeful the amounts will be more reasonable," Scheeringa said.

Other speakers, with highlights of their flood and crops updates:

* CORN, Bob Nielsen, corn specialist: Although a wet spring planting season is not unusual in the eastern Corn Belt "what is clearly different this year is the magnitude of it."  The June rains have affected several hundred thousand acres, perhaps as much as in 30 years. It is too late to replant damaged acreage. Despite the damage, there are signs of improvement. Yield potential of the crop will depend largely on the weather over the next 2-3 weeks.

* SOYBEANS, Shaun Casteel, soybean specialist: Although conditions for planting were marginal to begin with, the positive development is that there has been enough moisture to allow root systems to grow through compacted soil. Nitrogen loss has gone well beyond normal, so plants will need "a shot in the arm" with additional nitrogen when conditions warrant. For new planting or replanting, farmers will need to use varieties that will allow for a mature crop by fall harvest after a shortened growing season. 

* WEEDS, Bill Johnson, weed scientist: Farmers should get weeds under control with respraying as soon as fields dry out but should not feel rushed in windy conditions. They also will need to understand the risks of making "off-label" herbicide applications. Farmers wanting to plant soybeans in fields where drowned-out corn was planted should understand that some commonly used corn herbicides do not allow soybeans to be planted in the same year.

* INSECTS, Christian Krupke, professor of entomology: A "silver lining" to the rain is that corn rootworm, the most common pest in the growing season, is highly susceptible to drowning. So many of them have died off. There is uncertainty whether aphids, a common pest for soybeans, will be a problem this year. That is because Indiana does not have enough history of planting soybeans in July to predict whether there will be infestations.

* DISEASES, Kiersten Wise, associate professor of plant pathology: Although there is uncertainty about diseases at this time, saturated soils could create conditions suitable for soybean sudden death syndrome and, especially in northern counties, white mold. Corn foliar diseases such as northern leaf blight are starting to show in some fields.

* NUTRIENT MANAGEMENT, Jim Camberato, soil fertility specialist: Farmers will need to assess how much nitrogen their crops have lost and consider supplemental applications. Those who have been unable to apply nitrogen will need to assess the plants' root system and make the difficult decision about how much to apply. 

* COVER CROPS, Eileen Kladivko: Farmers who have been unable to plant or who have severely damaged fields should consider planting a cover crop to rebuild the soil's productive properties and minimize weeds. Farmers who already have applied an herbicide to corn, however, might have fewer choices of cover crops to use effectively.

* FORAGES, Keith Johnson, forage specialist: It critical to monitor temperature of stored forages so that their temperature does not exceed 150 degrees Fahrenheit. Typical temperature is 120 degrees or less. Also, make sure soil is dry enough to accommodate harvesting equipment.

* DISASTER ASSISTANCE, Steve Cain, Extension Disaster Education Network homeland security project director: No Federal Emergency Management Agency disaster declaration is expected, so communities must recover from flooding without federal financial assistance. EDEN is assisting those in heavily flooded areas, such as White and Jasper counties, especially hit hard with residential damage. Also, EDEN has resources for owners of flood-damaged homes in the Extension publication

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12 Replies
BA Deere
Honored Advisor

Re: 300 Mil and Mounting

Hey Ken, Darin Newsom was on Market to Market sounding bullish implying that the bull has legs.

 

http://www.iptv.org/mtom/episode.cfm/4044 

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rawhide
Advisor

Re: 300 Mil and Mounting

Man those guys at purdue are pure genius'.  I didn't have any of that crap figured out yet. I guess farmers need a PR firm to get the word out.

 

Hey I just thought of something.........remember when corn went to 7 and stuff at the grocery store skyrocked 'cause them dam farmers were makin a killing and then when it went back to 3.50 and stuff at the store didn;t come down in price?

 

OFFICIAL MARKETING QUESTION:  Is stuff at the store gonna go up due to too much rain and are we gonna get blamed for it?

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r3020
Senior Advisor

Re: 300 Mil and Mounting

Ken you silly silly boy. How long you been at this now? You KNOW rain makes grain. The sun will start to shine one of these days and everything will be wonderful. Now if I can just kill those 4 foot giant ragweeds.......

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ihtractortherap
Senior Contributor

Re: 300 Mil and Mounting

Some of those guys have no clue. Its gotta quit raining before you can do anything and still a week or more out.
Talk to us like a bunch of kindergartners
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BA Deere
Honored Advisor

Re: 300 Mil and Mounting

Don Roose was on USFR, I recall him being a bear (correctly) early on and I imagine got his clients "sold".  Now, he`s saying to be cautious about this bull, big SA crop, better weather going forward could take it all away.  And that is good to consider, however the bear gurus that were doing an endzone dance at the 30 yardline, it will be interesting if their rhetoric is to appease their now slightly concerned clients or is their analysis based on legitimate market factors.  The next two weeks to month will tell the story.

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roarintiger1
Honored Advisor

Re: 300 Mil and Mounting

Yes.....an endzone dance at the 30 yard line......and now a fumble on the 20.  It's hard to win a game when you turn the ball over. 

 

Of course as far as these market gurus go..........It's hard to lose a game when your are playing with someone else's deflated balls.  Smiley Wink

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roarintiger1
Honored Advisor

Re: 300 Mil and Mounting

Just got back from a short trip checking fields this morning.......after another 3+ inches of rain.......and it's still raining.   As of two days ago, while there was definately many acres already damaged, a few areas had started to recover.  Now? Well let's just say that after a couple of real good years, this years crops are going to be perhaps the worst on this farm since 1988.......They have a strong chance to be worse than that year as well.

 

Probably now really don't need to clean out the bins......gonna have plenty of room.

 

In rating my crops, I would say that we went from 100% at the end of May..... to 75%......back to 80%.......and now 50% or less of a crop.  This one is going to hurt a lot of people.

 

There is going to be a rather large exodus of older farmers in the next couple of years, many of whom have held on with the last few years of good crops and prices.  Lousy crops and low prices and still a decent prices for their land will have many waving goodbye.

 

Of course the farmers are going to get the blame when food prices rise again.......and believe me, the food companies will again latch on to this opportunity to raise prices.

 

The traders in Chicago have no idea.

 

How are the machinery dealers doing?  Seems like an awful lot of stuff just sitting on their lots.

 

And.........our constitution is under attack......again.

 

Enough ramblings of discouragement for one post.

 

 

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ECIN
Senior Advisor

Re: 300 Mil and Mounting

Dang Roar 'N' - with all that doom and gloom comingonat the end of your post - I have to wonder if you and DB-51 over on ag web are brothers - lol  jking and all that stuff  Smiley Happy

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roarintiger1
Honored Advisor

Re: 300 Mil and Mounting

Mr. Indiana,  May I remind you that you started this thread?     Smiley Happy

 

 

 

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