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04-30-2013 07:49 AM
On Monday, USDA says U.S. corn is just 5% planted vs. 49% a year ago and a 31% five-year average. Mike North, First Capital Ag senior market analyst, says the corn market rally, due to slower U.S. planting may be short-lived.
"The planting progress report is certainly a benchmark as to where we are in getting this crop in the ground. But, the market is going to react more to the weather forecasts. Last week, we saw warm weather take prices lower. This week, we are seeing cool, wet weather take prices higher. And a change in the forecast tomorrow, would rob us of what we saw today," North says.
Obviously, the U.S. planting is historically late. But, technology can help farmers plant the crop faster than ever, he says.
"We can plant 30% of the crop, or more, in a week. Because of our infrastructure, nobody is using the planting progress as a barometer for the markets, it's more about the daily weather forecasts."
04-30-2013 07:54 AM
04-30-2013 09:17 AM
Thanks for the reporting from your neck of the woods. It's always great to hear from someone that builds his own home, sells puppies and gets up in the morning, before dawn to sell grain.
04-30-2013 09:55 AM
Central Ohio still sopping wet. Looks like the weather will be clear until next Wed.. Hope to get going Thursday or Friday, nothing planted yet. Keeping fingers crossed in Ohio
04-30-2013 10:40 AM - edited 04-30-2013 11:05 AM
FWIW: Here is a new planting report from central Illinois. One farmer says:
"We caught another inch of rain, and from Pontiac, Bloomington, to Champaign, we have nothing planted, and just a few fields have been worked before the rains came. Hoping to be in in the next couple of days, if the weather works with us."
What about those farmers that are in the field, as we speak, putting corn in the ground ahead of the upcoming cold weather? Not a problem, this farmer/agronomist says. "Unless soil temperatures are extremely low, a seed freeze will generally not happen. More than likely, if it would start to rain and weather would cool off for another 2 weeks, the seed will attempt to germinate and push through slowly or rot in the ground.
With the hybrids we have today, I’ve seen fields take up to 3 weeks to emerge. Generally, if it takes this long there is a loss of stand, because a certain percentage just won't make it."
04-30-2013 11:27 AM
Thanks Buck -- you beat me to the gun - lol Anyway , Nothing planted here in Shelby county , We have a lot of bottom , gravel ground to my west , nothing done on it either - rule of thumb is when they start , still 2 or 3 days before we roll - neighbor this morning said they may try it tomorrow -- Gravel ) -- I just don't see that happening , Maybe Thursday at best , but it will be heavy .