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lsc76cat
Senior Advisor

I90

At 6 this am looks like a drive from Mitchell, SD to Chicago on the interstate would be a wet one.  Plenty of orange on the radar between I80 and I90.

13 Replies
rsbs
Senior Advisor

Re: I90

and here I thought you were predicting 190 bushels per acre corn after the 3-4 inch rain event.

It's hard to turn the spigot on, and hard to turn it off, too.

BA Deere
Honored Advisor

Re: I90

I got 4.8" so far and it`s still raining.   The "radar estimated rainfall" says over 5" on the southern end of the county.   To look out the window you`d say we got 2" no water standing in a low area that I gauge things on.   We were predicted to get only 1.5" but this is totally okay.

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rsbs
Senior Advisor

Re: I90

BA, glad I am sold out of old crop corn and I wish I had contracted new crop for that $7.25 bid that was out there for a couple of weeks or more.

Markets are going to take a big crap Monday.

My old crop beans may have to wait for 2023 and $8, but maybe land will be $4000 then, right?

Priced one of those Big M buildings at farmfest....was thinking, well it will come in at $150,000 and I will have to scratch my head, talk to my wife the banker, and say no. 

Here the bid is almost  $275,000....no concrete, no electricity, no site prep.

*****? Lumber has dropped from $1500 back to $450....must be a lot of pent up demand.

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gurly3801539
Advisor

Re: I90

rsbs, what size was that for?

0 Kudos
rsbs
Senior Advisor

Re: I90

120 x 72 x 18, one 36 ft double door slider, one 20 ft single slider, two windows, concrete at the doors only to hold them, eavelight, wainscoating.

pretty bareboned cold storage building.

You know, when you get a bid like that, it is God's way of telling you to sit tight, and wait for the correction.

BA Deere
Honored Advisor

Re: I90

Red, a Morton that sized would`ve cost half that, 10yrs ago (the last time corn was $8).  I think I would also wait, not necessarily because the price will come down, but to be more confident that we really are at a "new price plateau".  

Does Morton still have their lease program?  I would`ve looked harder at that instead of sec 179-ing my building.   My $8 corn sins nearly broke me when I discovered "hey, corn really can go back down to $3 again".   I sec 179`d the sucker on federal, Iowa only let me 179 half of it, thank God, because now I have that extra depreciation for another few years on my Iowa taxes.  

I wouldn`t go with anything less than a Morton, maybe Wicks.  Morton`s warranty is just so good, snow load and 50yrs on some things.  Look at the Lester building put up in the 80`s, the paint is all peeled off.  The Morton crews are top notch.  When my Dad bought one in 96, the Morton guy said "I`m not a salesman, I`m a order writer, Morton buildings sell themselves" 😀  so true.  

Good Luck.

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rsbs
Senior Advisor

Re: I90

The only rain gauge my son emptied was 1.75, shut my only irrigator that was on corn off at 2pm in the afternoon waiting and hoping. Beans have gotten a couple .5 inch shots, but waiting to water them in August fill period heavily.

Some corn on non-irrigated sand looked shot and crinkley, but I have seen "Lazurus" brown corn come back from the dead, turn green and make 150 so anything is still possible and probable.

My bet is high yields in southern MN, and some of the drought stricken areas in the rest of the state may surprise.

Not trying to be pessimistic, but I don't see a lot of hope here.

Not going to spend $300 an acre on fertilizer, either.

If we don't boot Walz, Ellison, and crew, though....does it really matter?

 

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erikjohnson61y
Senior Advisor

Re: I90

Y'all make me sick.  Sick with envy, that is.  All these nice storms fired up east of us. We **barely** got a tenth this weekend.  Nothing in the 10 day forecast.  My crops are not looking that bad after 2" in the first half of July, but nothing since. Nothing to fill out the beans for sure. Here in the Dakota's were are consoling ourselves that our APH's are up from the last several good years, and the spring price was good, so the insurance check won't actually be that bad, compared to most down years. Could be much worse. Still, a lot of corn will be cut for silage here since the hay yields are way down and pastures are about done.

My daughter has to fly to Indianapolis today for work this week, but her first leg to O'Hare got cancelled due to storms there. Rerouted through MSP on Delta and they'll get her there at 11pm, with a hour-long Uber to follow to get to Greenfield. Glad she's travelling with 2 others from the company.

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gurly3801539
Advisor

Re: I90

Wow. $31.80 per square foot. 30 years ago I built a 50 x 94 x 16 with a twenty six foot slider and a 16 foot slider.   Didn't have the wainscoting, but cement for doors like you said. Pretty hard to convince them to put a 26 foot door in 50 foot building at that time, but $5.50 per square foot. Times are changing. My experience with Morton is you need to talk to them at least five different times to get the best price, but I suppose supply and demand is some of it. 

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