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Corn Prices

Well everyone with high water may be using it next week! Even up there in Minnesota. Mid-even-Upper 90's are forecast,,even into the Upper Mid-west..Hottest stretch of the Summer they say. Heat Dome is gonna get SERIOUS....:)
 
loneranger said:
Well everyone with high water may be using it next week! Even up there in Minnesota. Mid-even-Upper 90's are forecast,,even into the Upper Mid-west..Hottest stretch of the Summer they say. Heat Dome is gonna get SERIOUS....:)
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I am guessing you have never seen a half-full glass of anything.:)
 
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Yea,Funny! Just reading extended forecast put out in Minnesota for the coming Heat..Temps in the 100's not out of the question...:)
 
A lot of rain is "good" - overall yields will be better until u get to a point of MIDWEST flooding and that's about only scenario that's going to kill yields across the board. Drought, IMO - is much more serious across the board for yields. The 2 extremes- drought and vast flooding across many states. Drought usually is more widespread than flooding from what I've seen in past and does more harm.
So- how do folks apply this to grain prices?? Well- in really short, IMO... If u have massive drought across many states. Prices go UP. Not down. Lower supply. Massive floods across many states- prices go up. Now, the opposite... If u have "plenty of rain" that's not flooding vast areas- that will help mediocre ground produce well- have a good crop and more corn to market- having impact of lowering prices. Just based on weather alone- getting rid of smaller pockets of flood/drought- so far, IMO- this year looks like a good growing year on average.
To keep in perspective... Perfect storm for prices was 3-5 years ago.... Massive droughts across MIDWEST, not as many acres in production as now (lower dollar value as well), Commodities (like gas & then ethanol production) were high. That drought really drove prices way up. Well- we don't have a lot of those things going on now so almost by rules of economics- prices simply can't make drastic swings without a massive drastic occurance of whatever type. Hurricane and 20" of rain in Iowa might do it ;). Bout it that I can see.
 
Way I see it,,most areas in Iowa,,even dry Moderate Drought areas, got rain just in time for the corn. Now beans need water later is more important from what I hear. Record breaking Heat Wave coming in may affect beans,,if it stays? I know sky is falling,,bad news,,wacky loneranger fanatic. Just a fact,,Record Heat in store for much of the Midwest. Hopefully wont last.
 
In case you think I am just crazy,,go to the National Weather Service page and type in Minneapolis. Scroll down to discussion..There is an extensive description about this incoming heat wave. They say the strength of it may break years of records. They also say it is possible it will last the rest of July! And they put in that exclamation point! Hope they are wrong.
 
With the corn and soybean varieties we have today farmers can produce pretty large crops through about any climate other than the extremes. With so many acres having been brought into production when grain prices were through the roof, huge crops are here to stay, which puts a lot of pressure on prices. Inputs will have to come down, rent will have to come down, land prices, implement prices, and on and on if farmers are going to do much more than just get by. Of course the government may come out with a whole new welfare program similar to corn ethanol and throw a wrench in the economics of it all.
 
Beans tolerate heat really well. Flowering & a timely rain will be needed. We r gonna have a good crop unless we get catastrophe. This is a pretty good growing year on average from what I've seen in a lot of areas.
 
For any still reading this. Which I lnow is few. Look at radar this more. Crazy. All the rain sliding down eastern iowa missing western ? Interesting.
 
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