Jun 28, 2011

Slippage in Corn and Soybean Crop Ratings

The condition of the U.S. corn and soybean crops declined last week as excessive rains hurt crop development in the heart of the Midwest production belt. USDA rated U.S. corn conditions 68% good/excellent as of Sunday, down from 70% a week earlier and 73% a year earlier. The soybean crop was rated 65% good/excellent, down from 68% a week earlier and 67% a year earlier....More
Jun 28, 2011

Knee High By Fourth of July?

For generations, the standard measure for corn growth was “knee-high by fourth of July,” which meant that the corn plant should be able to produce a crop for that year. Of course, most farmers a couple of generations ago had much lower yield goals for their corn than the farmers of today. Today, waist-high or higher corn by July 4 is more typical, and has resulted in some very good corn yields in most areas in recent years. It is difficult to get exceptional corn yields in the southern half of Minnesota, if corn is only knee-high or shorter on July 4....More
Jun 28, 2011

Killer Toy Alert

I just received emails from ag lenders in the Midwest and Upper Midwest who say that killer toys are starting to get out of hand on some farm businesses. When economic times are good, the “exuberance” consumption and “froth” that Alan Greenspan mentioned when describing the U.S. economy before the crash rear their ugly heads....More
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