Why the Market Hasn't Responded to May's Wet Weather

May 17, 2017 02:53 PM
 
 

Wild weather in the Corn Belt in the beginning of the month flooded freshly planted fields and dumped inches of snow on Kansas wheat. Farmers were expecting to see a bump in prices, but failed to see any reaction in the markets.

Naomi Blohm, senior market advisor with Stewart-Peterson, said the market’s main focus is that the “crop is going to get in the ground and get planted.”

“It’s going to assume the best until proven otherwise and history tells us that we get the crop in the ground,” said Blohm.

Angie Setzer, vice president of Citizens, L.L.C., agrees, citing wet weather in 2015 as a prime example.

“That year we produced a brand new record crop,” said Setzer on U.S. Farm Report. “A lot of times, the trade thinks of wet weather—for every acre that you’re damaging, there’s two that are benefitting from the moisture.”

She said producers can’t say the same thing when the seed hasn’t emerged because of cold temperatures or because it hasn’t been planted.

Hear Blohm and Setzer discuss the impact of Memorial Day on the cattle market and dairy demand on U.S. Farm Report above.

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Comments

 
Spell Check

Show me the money
Mt. Vernon, IL
5/19/2017 02:00 PM
 

  Again love how all these experts hedge their bets. "on one hand crop gets planted, but watch out for the last 5%". Let's face it...short of a drought, every single farmer has both barrels loaded of 40% of his old unpriced and 80% of his new crop unpriced - just praying for a bounce. Market has beat us down for 3 years running. Slightest bump in prices and we will unleash our fury. Market knows it...and that's why fund have near record short position. Flooding seldom provides a immediate bump. Need a blow torch for about 4 weeks. Next 2 weeks look cool. If I was a fund & short, I stay that way too. So it boils down to a game of chicken, who flinches first ? The funds who are short a billion bushels of corn , or the U.S. farmer who has 6 billion old and 12 billion new to sell? Kinda lopsided ain't it?

 
 
Muriel Brown Inabnet
Greensboro , NC
5/29/2017 01:03 PM
 

  I Run a Non-Profit Volunteer Community Farm as an Outreach Ministry under Holy Trinity Episcopal Church on a 98 Acre Farm site in Oak Ridge, NC 27310, and the Rainfall During March, 2017 -May 29, 2017 is destroying our Basic Vegetables in our Main Tract! We cannot get our Tractor into our "100 Foot Row Crop Field"! Any Crops Planted get washed away or eaten by Cutworms or Rabbits & Groundhogs! Our Produce is all Distributed to Local Non-Profit Agencies & Shelters, Food Pantries, and The Second Harvest Food Bank. In our Worst Years, We Delivered over 30,000 #s of Produce & in Good Years 60,000! HELP! All Work to Prepare Rows for Planting Beautiful Healthy Tomato Seedlings was Washed away by 1/2" of More Rain to an already Wet Soil! Is there any Help for Farmers in NC Piedmont Farmers Suffering? Does Anyone Care? My Seedlings = 700+ & Getting too big for Seedling Pots in their Trays! Tomatoes have to be Planted Deep& Hilled up in Furrows & Then Caged (WE MADE OUR 4 foot Tall Cages w/Sierra Wire as Strong Support! I can be accessed on Facebook under My Name and THE SERVANT FARM! Our Annual Photos show We can Farm, but not in MUD! No Help from any NC AG State SITES! We Plant Non-GMO, and Use the "COMPANION PLANTING" Methodology which is often called the "THE THREE SISTERS Planting Method"! We want also to educate All Individuals that "You are What You Eat"! We do not use any TOXINS, but at present ants and spiders are in Rows, and other Insects are Biting Me Daily! I have to get these Crops PLANTED! Please Help!

 
 

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