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What Time of Year Is It??
I trust this finds all well, last bit of calm prior to the storm of harvest – which is a mere weeks away. I’ve had several conversations with growers over the past couple of weeks regarding what time of year it seems like, end of May, yet the calendar shows the end of June.
I may have said this previously, distinctly recalling a conversation with my grandfather 50 years ago about time – as an urchin full of knowledge at 5-7 yrs of age, I couldn’t understand his statement about the ‘good old days’ nor ‘time goes faster and faster as you get older’. How and why is that? I know the electronic devises haven’t helped, there’s more information is pushed every minute and there’s a sense of obligation and need to respond. I’m guilty of both, my periodic updates contribute to said information overload…
ARC/PLC – I’ve heard forecast numbers on this coming October wheat payments (15/16 marketing year) to be north of $8 BILLION for PLC. For a point of reference, the cost of the entire MP program administered by RMA has an annual cost less than half at $3.8 billion and change. This is a heap of monies and shows the extend of price collapse of our commodities. This number is bound make the CBO squirm…and a related story of ARC/PLC.
Beef Imports - Really, what took this long to decide? It's been know for months that the Brazilian inspection system is flawed with corruption. Read more...
Homeowner policy and water damage - We've provided a similar article in the past about what is and is not covered. I believe it is prudent to share what can differentiate a covered loss vs non-covered loss in the event of water damage. In a few words, sudden vs gradual best identifies coverage.
July 1 - This is the traditional deadline date for cash discounts on crop hail premiums. The percentage varies by carrier, but it has been 10% for the past several years. If you've not yet received a premium billing, please do let us know.
July 15 - The acreage reporting deadline is fast upon us - both FSA and RMA hard deadlines. If you've not yet certified your spring acres, prevent plant paperwork cannot be completed until this is done. Lastly, this is a hard deadline, we must have your signature on said paperwork prior to the 15th...if you've not yet received your producer print due to reconstitution of farm numbers, please contact your local FSA office and encourage their timely completion.
Livestock - Depending on your cattle operation, some select cows for their disposition to aid with surviving on the open range. We calved cows in a confined area, this aided with finding newborns under less than ideal conditions in February in central ND. This article provides a correlation between disposition and pregnancy rate - nasty may not be better...
Hard for me to believe that with the genetics currently in place and the herd bulls being employed, a 10% or more gain on calf weaning weights is possible. Read more about it here...
Markets - Spring wheat continues to strengthen, corn and beans will be flat until the USDA report that will be released later this week. Planting numbers will change from intended to actual. The question remains whether or not yields will be adjusted - I'm confident 170 bu corn crop will not be the US average this year. Stay tuned...
Conditions back home remain the same - a general rain is needed region wide, only scattered storms have been received...1.3" last weekend was the first rain in 2 months, amounts varied greatly within a mile. If you're in the path of a storm, a sustaining rain has been received; if not, you pray for the next one to come soon and cool weather to assist. Grass is short so hay will be an issue, many are planting a rescue hay crop with recent moisture hoping it continues. I spoke with my Canadian friend (central Saskatchewan) last week to learn of his plight - very similar, wet initially and now hot and dry. What Dave did say is that he doesn't ever remember the amount of wind they've had this spring. His rotation is canola, pulse and wheat; planted more canola acres this spring due to said prices.
MYA wheat price - The estimated marketing year average (MYA) price for wheat has been updated for April, climbing $.02 since the prior month at $3.92. The 16/17 marketing year has closed, the final price should be announced any day now.
Triticale - The long anticipated and hoped for program is here for 2018 as announced this past Friday by RMA. A pilot APH program available in limited states and counties, but our region will have in all 3 states and most all counties...up to 85% coverage, t-yields appear to be favorable, price not yet announced. We'll discuss this product and a couple other new products we have available for growers during our grower meetings later in August, stay tuned for details.
Who remembers the movie 'The Jerk' with Steve Martin? The scene when the new phone book arrives and Steve is ecstatic! I can relate this to crop insurance - 6/30 is the contract change date for fall seeded crops, crop insurance agents like myself who don't have a life, eagerly (?) await the new year actuarials (phonebook) and the changes for the upcoming crop year.
Weather - Conditions intensify and remain across our great land...
As harvest nears, I hope and pray that a safe and bountiful harvest finds everyone.
I wish all a grand 4th of July - baseball, bbq, apple pie and mortars!!!
“A man should never be ashamed to own that he has been wrong, which is saying, in other words, he is wiser today than he was yesterday.” ~Alexander Pope
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Posted in Risk Management; Posted June 28, 2017 by Curtis Evanenko
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