With wet weather remaining a concern in states such as Minnesota and Iowa, the markets are watching to see whether growers with unplanted acres get crop in the ground or walk away with insurance as a safety net.
"You’re starting to see a psychological change taking place on this delayed planting," Greg Hunt, Archer Financial Services, tells U.S. Farm Report’s Marketing Roundtable. "And myself included, a little too complacent up until this last week, thinking, ‘Well, we always get it in, we’ll get it in.’ But there’s many different options, especially in the northwest Corn Belt for these guys now that weren’t in the past."
In some places, farmers might be better off not planting and taking the money they can get instead.
"You’ve got to decide, which producer are you?" says Tom Grisafi, Indiana Grain Company. "Are you the 85% that look like you’re having a great crop, or are you part of that 15% that might not even plant a seed? Or you might have to replant and decide not to do it?"
Commodity prices aren’t the only volatile component of the markets in recent days. Other factors have included an uptick in unemployment and roller-coaster currency.
Watch both Marketing Roundtable segments below for more information about tough planting decisions, plus learn how marketing experts use Twitter, get an update on the Argentina crop and find out why producers who’ve sold their fall crops should be looking ahead.
Watch the first video segment of U.S. Farm Report’s Market Roundtable below:
Watch the second video segment of U.S. Farm Report’s Market Roundtable below: