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Advisor
Posts: 3,976
Registered: ‎05-03-2010
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Re: Floor Talk August 11

I totally agree.
Advisor
Posts: 3,976
Registered: ‎05-03-2010
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Re: Floor Talk August 11

I totally agree.
Advisor
Posts: 501
Registered: ‎08-31-2012
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Re: Floor Talk August 11

That is terrible to see - just plain ugly!!  Saddened by your loss.

Couldn't even track the storms on NWS - the Dodge City radar was knocked out.

Was reading the warnings as they came out and those storms were quite large.

 

Honored Advisor
Posts: 15,055
Registered: ‎05-13-2010
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Re: Floor Talk August 11

Hang in there SW, that hail sucks, it devastates one field and leaves next alone.   I think Paul Harvey said it better than anyone about being a farmer.

 

https://www.youtube.com/watch?v=H7yZdOl_e_c 

Honored Advisor
Posts: 7,605
Registered: ‎07-18-2011
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Re: Floor Talk August 11

Was worse from gove ks to east of wakeeney. Many acres over more than two counties.
Another bad area from Johnson city to Syracuse ks
Near 7 inches of rain in 2 days. Hard and fast.
Honored Advisor
Posts: 7,605
Registered: ‎07-18-2011
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Re: Floor Talk August 11

Mike --- the numbers depend on the fringe. Half the total corn crop comes from outside the corn belt.
The first sign of trouble for the 17 crop was the basis in the dakotas last season. Acres at those prices can't be financed.
Then the drought this spring that grew and grew up north like the south in 2011.
Then the expansion in cotton acres south where there might be some good yields but less acres.
Then the heat for over 2 months that reduced yield in most of the dry land in ks before august cooled off.
Planting a month late.
Most of this is centered on the fringe........ yes
But it is based on facts that affect yield. Most of which haven't been considered in the yield presented this week somewhere north of 169. Even fc stone has it down to 162 based on their local observations and that's a conservative guess to the damage.
And its august 13, and we still have corn pollenating.
Producers will raise lots of bushels, fc stone will hedge lots of bushels. How many risks will usda personnel take? ... as close to none as possible.
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Veteran Advisor
Posts: 1,226
Registered: ‎06-30-2010
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Re: Floor Talk August 11

And, there's a significant impact on price between yields of 169 and 162, both for remaining old crop and new crop.  At initial "trend yields", as well as at 169, we are deprived of potentially higher pricing opportunities, likely until sometime late or after harvest, until the crop is essentially "proven", for better or worse.