Point of view
Sat at a table with a community bank loan officer.
Nice guy since I didn't need his services.
Was from the east half of Iowa, their trade area was interstate 80 and south.
Cattle guys are in trouble, especially the feeder calf guys.
Said only thing holding some row crop guys together was in his area the farther north
you went the better the yields were. 240 on the north and clear down to the 175 level on the south side of his area.
The 175 guys went in the red he said.
If his trade area had gone farther down into southern Iowa, double digit corn numbers were common .
I have no idea how you market yourself to a lender in the southern 1/3 of Iowa with a break even above 175 bpa.
Would like to had more time and asked how many wouldn't get financed this year. And a few more things as well.
Definitely going to be some kind of change in the near future at these outcomes.
Re: South American rainfall by day
Looks like Brazil got a drink
Talked to fellow in church that's on top of things.
He usually has a happy outlook on things, but
Today things were changed. He was serious.
Little if any moisture, and none in sight.
Was saying one climatologist says we are way
Overdue of a drought, but same one saying
Good corn yields in top 3 corn states.
If USDA comes out and says big wheat crop,
Sonny needs to be fired.
Data I'm getting from fellows.,.we should
Be at double digits.
When 60 to 70 percent of the crop is poor to very
Poor, and the price goes down.
And believe it or not the market gurus don't
Think its going higher !!
Re: Point of view
I intentionally did not ask for the name of his employer. He didn't volunteer it.
It is just outside of my area of knowing what banks are where.
Really think it is not relevant to this forum.
Re: Point of view
Well, Hills Bank is a major agricultural lender in SE Iowa and if they have some thinking on some topic on agriculture it is good info to know. They put on a big forum in Riverside last week and at this stage seem pretty positive about agriculture. Not that there aren't a few iffy accounts, but on the whole they are bullish from what I can tell. It's always nice to know how comfy the bankers are feeling.