| SoDak Farms - 2/15/2024 14:28
I’m bearish, meaning even if price goes up from here (as it usually does) I wonder how much basis deterioration will eat up that gain…. I suppose that all comes down to your regional market supply…
I don’t have much left to price.. a neighbor called this week and wondered should he panic sell? I said..
”welp, we are triggered now for big revenue insurance payments in HRW Wheat.. and.. I’m slashing to the bare minimum acceptably applied fertilizer.. I sent a picture to my crop insurance agent that I was indeed applying some.. but we’re punting on the usual 2nd pass. His response ‘do what you got to do.’
Therefore, I’m welding the bin doors shut.. and if you’re (the neighbor) so inclined.. you can join me on the ride on the titanic to the bottom.”
That said.. nobody else.. well very few.. have started fertilizer applications.. and will probably be slashing their rates also.
Next Now is the seasonal time to lock in petroleum products as we are in the verge of the summer driving season.. and ethanol plants.. in a few weeks.. month or two.. should be ramping up for the summer driving season.
Also depending upon how fast the ENSO changes.. we’re cued for a benign 2016 growing season.. or a repeat of 1988.. lol.. those two are both in Snodgrass’s “similar years.”
Cheers.
we now return you to your regularly scheduled doom and gloom programming.. |
Corn in the field.
