GOVERNMENT NUMBERS:
Sometimes farming and an important job in marketing comes down to numbers. Friday was a day all about numbers as the USDA lowered the 2010 corn yields to 155 bushels / acre from 165 / acre. Last week they had added 300 million bushels to the corn stocks from 2009. When the corn stocks report came out as a surprise prices for delivery dropped substantially as the view became that grains were plentiful. The following report showed that there was in fact problems with our growing season and corn yields suffered. Prices are now trying to go high enough to limit usage.
The best advice I received in college was that the USDA does do a great job in reporting the numbers. They do the surveys and show state by state numbers. They sometimes change those numbers in a following report but that reflects the information they have updated. It is the farmers job to sort out the information they give us and determine if we agree and make our own determination about marketing. Things I am trying to sort out now is the extra 300 million bu. from 2009 and lowering feed use. The 2009 corn crop was of poor quality so it was taking more corn to produce the same weight of pork should have increased feed use. The same fact that there was poor quality corn means some could have been retained to blend with 2010 corn. Both are probably true but at what percent? Also in August when the corn yield was projected at 165+ bushels / acre and Illinois and Iowa were so bad the farmer had to decide if that was obtainable. There is no doubt that corn is going higher and this will change other decisions. One example is that the information I am getting is that the livestock industry has not locked in any where near the normal amount of feed use for the year (they were expecting a high yield and waiting for lower prices). This lower yield and higher price for corn will change some plans. From July 28th to current expectations the cost of corn just added $18 to the cost of each pig raised to market. This will have some seriously evaluating production numbers, those pigs would be marketed in August 2011. One of the readers asked for more market insight to the farmers thinking so thank Bill if you got too bored on this one. Post a comment to get what you want.
FARM NUMBERS:
My Soybeans in the Foods Resource Plot yielded 84 bushels per acre (tremendous) so if you are one of the partners who pledged support of an acre or portion of one you get the bragging rights to that one, tell your friends that you grew 84 bpa beans. The field yielded 72 bpa because of drowned out areas but still great. I just finished corn harvest and have not quite totaled everything but yield will be under 180 bpa average again because of drowned out areas from excessive rain. Lima beans were under the minimum set by Delmonte so I will get a minimum payment.
MORE NUMBERS:
720. Yes the word is that WGN farm broadcaster Orion Sameulson will be at this years Harvest Celebration.
1.02 Billion hungry people world wide. Help us make a difference join FRB (facts from http://www.worldhunger.org/articles/Learn/world%20hunger%20facts%202002.htm
16 You guessed it Oct. 16th at 10:00 join us at the Dau farm ( directions on last post)
Serving Together , Dean Lundeen
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