Changing weather & slowing harvest
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The weather definitely took a turn toward fall and even winter in parts of the country this week, a week that saw harvest progress slow slightly as farmers near the finish line.
- A 'gamut of yields' in ECB -
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The weather change was sharpest in the northeast and eastern Corn Belt, where major snowfall was recorded in what was, in some areas, the worst October snowstorm on record.
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Though the snow kept some farmers at a standstill, others were able to dodge the flakes and make some major progress in the field this week. We found out that many farmers in the eastern Corn Belt have found surprisingly good yields in their corn and soybean fields this fall.
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On top of good yields, some farmers, like Marc Haring in Richland County, Ohio, are finding strong cash basis levels, making it a clear choice to sell right out of the field.
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While the combines are still running hard in the eastern Corn Belt, the overall pace has slowed, according to USDA-NASS this week. Still, in a week or so, harvest should be wrapped up if farmers keep up the current pace
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One thing's sure from this year's crop: Corn-on-corn wasn't a big winner this year. But, a few factors specific to the last 2 years could be why the system wasn't successful this year.
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Meanwhile, the early November crop estimates are starting to trickle in. FCStone trimmed corn and soybean numbers while Informa sees a slightly larger corn crop.
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The attention of the grain trade -- which spent much of the week in the red -- is squarely on the situation surrounding MF Global's bankruptcy protection filing. It has had some big initial effects on the trade.
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Despite the recent slide, higher grain prices helped fuel healthy profitability for ag banks in the last year, according to a report released this week. Ninety-six percent of ag banks were profitable in the 2nd quarter of 2011 alone.
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If you're done with harvest, you may be turning your attention to other jobs you can do around the farm. Some farmers use slower times of year to operate side businesses. Here are some great examples. What's your experience?
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Meanwhile, in Washington, DC, frustrations are running high as lawmakers struggle to meet their deadlines in these early stages of farm bill negotiations.
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Now, to more serious matters: From which conference will this year's NCAA football champion come? See what other farmers say and jump into the conversation to represent your favorite school and talk a little smack!
Harvest is still in full-swing in the eastern Corn Belt.