Corn traders will be very interested to see this afternoons USDA "planting progress" numbers. There is no doubt farmers have been burning the midnight oil this past week. In fact several analyst believe Iowa planted over 50% of their crop and as a whole corn planting here in the US will be 60-70% complete vs. just 28% last week. This brings up a very interesting point: With close to 50% of the US crop ALL going in the ground (late) during the same 7-10 day planting window (May 10-20th), I am of the opinion, the price of poker for "pollination" just escalated dramatically. Meaning the mid-to-late-July time period will now be mission-critical for the US corn crop. Any type of extreme heat or dryness could put an abnormally LARGE portion of our crop at risk. Lets also not forget, as our good friend Chip Flory over at Pro Farmer points out, "the corn plant reaches physiological maturity about 56 days after pollination. That means the crop could still be trying to add yield when days are getting too short to gather all the energy needed." Right now I have to believe the market is currently trading a 153-158 type yield number. With over 95 million corn acres almost certain to go in the ground this type of yield does very little to excite the longer-term bulls. However, if we were to see the extend Jun-Jul-Aug forecast show more heat and less moisture, a sub-150 yield could start to become more of a reality and the bulls might once again start to run.
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Corn planters were rolling hard in the past week as producers now
have 71% of the crop in the ground, up 43 percentage points from this time last
week.More than half the states allow you keep your estate intact forever
in 500 or 1,000 years or more. But other methods may achieve the same goal
without handcuffing your heirs.
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Sen. Charles Grassley, R-Iowa, said Tuesday he doesn't think the farm
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insurance. He and other senators outside of the Southeast are also openly
complaining about the new provisions in the farm bill that create higher target
prices for crops, particularly for rice and peanut growers.
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Recent developments in the corn market reminded me of a column I
wrote a couple years ago.
See DTN Ag News. BNewsom on the Market...
Farmers are in a constant battle to balance things such as water: not
too much and not enough can both cause problems.
See . FView From the Cab...
Brazil's governors want the farm giant to become self-sufficient in
fertilizer production but a lack of recoverable reserves makes this a pipe
dream for potash.
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