Thursday, July 24, 2014

Mid Growing Season Observations

On Monday, July 21, I had the opportunity to pull corn leaves from one of our side dress manure plots to determine the nutrient level reaching the developing ear.

I would first like to share this was the first time that I have spent a considerable amount of time in a corn field in the middle of July since I was a kid when the replacement heifers got out of the pasture and moved into the corn field.

I share with you that while making my way thru the 60 acre corn field, with corn easily ten foot tall and planted in three different directions I experienced three things: 1. Anxiousness: could I find our treatments and could I find my way out; 2. Heavy pollination: I was plastered by the yellow corn pollen as I moved thru the corn; 3. Great looking corn: almost every stalk in the manure side dressed corn had shot two good ears.

Gary Schnitkey, Department of Agricultural and Consumer Economics University of Illinois, reported last week that the U.S. Department of Agriculture released a revised World Agricultural Supply and Demand Estimates (WASDE) report on July 11, 2014. In this report, the 2014 Market Year Average (MYA) price for corn is projected to fall between $3.65 per bushel and $4.35 per bushel. Revenues and farmer returns are estimated for prices in this range given an average and high yield. Crop insurance and commodity title payments are included in estimates. Given this price range, there is about a $100 per acre range in which per acre returns can fall. Farmer returns likely are negative for cash rented farmland, given that costs are near average. Farmer returns for share rented farmland likely will be low.

Although the corn field I was in on Monday looked like it would have tremendous yields I would share that I have seen more fields in the county that I believe will be closer to average in yields. This being a result of the “roller coaster” emergence and the water damage that many of the corn fields experienced.

Darke County soybean fields are beginning to look better as we get a few more dry days and heat. The “wet feet” the soybeans had in June made it difficult for them to get going. August rains will be critical for pod fill and yield potential.

Last year we had ideal rainfall in June. Then for much of the county it turned dry in July and August. Below you will find a graph showing rainfall from April 15 to July 22 for 2013 and 2014 for several locations in the county.


Finally, how do the grain prices compare; as you can expect, they are significantly lower than last year. USDA Price Received Charts indicate that corn is down from last year from $6.79 to $4.37 and soybeans from $15.30 to $14.10. And looking into December futures corn is trading at $3.72 and November soybeans are trading at $10.71.

Taking a contrasting look, lean hog prices are up from $89 to $125 and live cattle are also up from $127 to $154 in the past year.

So what does all this mean? Farmers paying cash rent will find it difficult to show a return to land costs in their budgets. Livestock farmers raising their own feeders will show profits in 2014.

For more information about OSU Extension, Darke County, visit the Darke County OSU Extension web site at www.darke.osu.edu, the OSU Extension Darke County Facebook page or contact Sam Custer, at 937.548.5215.

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