"May" We All Enjoy This Spring...
Happy May Day! Remember when May baskets were made in the classroom to celebrate this day and then shared with others we had a fondness for? I’m sure that wasn’t just done in the educational circles of central ND! Do the urchins still make baskets and celebrate May Day?
This past week I attended an agent conference with other attendees from across the country. This provided me with an opportunity to obtain a firsthand accounting of what the crop conditions were like in other areas. As a general rule, there is not a concern for being delayed or late with corn planting yet. Some areas have been able to complete planting between rain events; other later areas are hoping to get started with field preparation this coming week. The upper Midwest region of the SD/MN border would be an exception, especially with snowfall last week and more cold temperatures over the weekend. If the same weather pattern continues to mid-May, all will be singing a different tune.
Regarding the HRW crop, that opinion ranges across the entire spectrum, depending on location - poor stand establishment last fall that hasn't had any significant, beneficial rainfall compared to areas where the crop has had very timely moisture and rainfall since late winter. I spoke specifically with a couple of agents in western KS and was told the latest rainfall has actually produced tillers with what appears to be viable heads, below and in the canopy. The '17 crop looks to be decent, certainly not the bin-buster of 2016 by any means. The HRW tour begins this coming Monday, the markets are sure to react to the reports that will be coming out.
72 hours - Just a reminder of prevent planting requirements. Upon your decision to no longer plant at or after the final plant date, you must notify the crop company w/in 72 hours of your decision. 20/20 rule applies for any possible payment and you must substantiate your inability to plant the crop timely due to an insurable cause of loss. Let us know if you have any questions regarding.
Boris & Natasha - With much of the world distracted, our dynamic duo is out creating havoc for my homies - where is the national traction or is this a non-story? How would the markets react to a heightened skirmish near the Black Sea? Crimea was a +$2/bu run up...read more here
CRP - At least one Senator is in favor of increasing the acres enrolled in the Crop Reserve Program and he sits on the Senate Ag Committee.
Distracted driving - It's not just texting that diverts attention while driving! I've seen virtually everything in my many miles on the road over the years: reading the paper, applying makeup, shaving, brushing teeth, lap children, lap pets and lap adults! Check this out...
Fixit - The ongoing battle of ownership rights when dealing with manufacturer software...
Homeowner policy - Are these three items covered under your homeowners (farm dwelling) policy?
Iowa Water Runoff - Here's the latest on the concluding story that we've shared here several times previously. A victory for agriculture and frankly how regulation should come about, via the legislative processes in place.
June 1st - This is the deadline to complete and file the AD-1026 form at your local FSA office for meeting the conservation compliance requirement of the 2014 Farm Bill. Any and all new entities must have completed this document prior to this date in order to be eligible for USDA benefits (premium subsidies) for the next crop year, 2018.
Livestock - A fairly active news cycle since our last update including what was the previously #4 cattle feeder in the US is now exiting that business, 63 Brazilians have been indicted for their part in the country's scandal, and China has opened it's doors for US beef. Speaking of livestock, if you had wished to protect your prices last fall (or 18 months ago when the market was higher), feeder market has rebounded nicely since the lows of last fall and now may be the time to do so. Reason 1... Reason 2... Reason 3...
Markets - The three wheat markets made nice gains this past week. The HRW tour, coupled with the cold snap through that region could have an impact on the markets - weather response will be Monday, tour will be over the course of the week. Know that the hedge funds have positioned themselves to record or near record short positions in wheat as well as corn, (nearly 1 billion bushels of wheat and more than 1 billion bushels of corn). If the current cool, wet pattern continues across the corn belt, weather premiums will be priced in.
May 15th - Technically, midnight of the 14th as the policy language states 'Coverage expires on 1201 am on the 15th.' To prevent any gap in coverage, get your hail coverage in place for 2017 make the call - remember, it doesn't cost any more to insure early and rest easy. As stated her earlier this winter, hail rates have changed significantly in some areas and for some crops. We will always keep your best interests in mind.
Prevented planting - For your reference, the definition of prevented planting from the crop insurance policy:
Failure to plant the insured crop by the final planting date designated in the Special Provisions for the insured crop in the county, or within any applicable late planting period, due to an insured cause of loss that is general to the surrounding area and that prevents other producers from planting acreage with similar characteristics. Failure to plant because of uninsured causes such as lack of proper equipment or labor to plant acreage, or use of a particular production method, is not considered prevented planting.
Tips for tough times - Ten tips for tough times in farming.
UK - Auto rates aren't rising only in the US...read more here...
Weather - This spring has produced flooding in many parts of the country, the drought index in parts of the country has actually worsened over the past couple of weeks. The weekend storm that barreled out of the Rockies has closed parts of I-70 and I-80 in KS and NE; Colby, KS, received nearly 2 feet of snow and another KS community reports snow drifts of 8'. It appears that our region may actually have prolonged (I'm defining as several days in a row) days of sunshine in the near future with 80 degrees on Thursday - WoooWhoo! I think my rain gauge is wore out...when did Eastern WA become the wet side of the state?!?
Here is a story of a self-proclaimed climate evangelist coming into homes on a nightly basis...
Yield contest - The deadline to register and participate in this year's wheat yield contest is near. Due to the delayed spring season, the deadline has been extended to 5/15. Here's a link to help you on your way to registering your bin-busting wheat yield!
Until next time...
“Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not.” ~Thomas H. Huxley
McGregor Risk Management Services, LLC
Cell - 509.540.2632
Office - 509.843.2599
Fax - 509.843.2583