Financial Conversations with Fitz #34 - Review of Crops in the Western Half of Iowa - 09/15/2009
Crops are probably just about done growing. The beans really are changing. Traveled to Sioux Falls this weekend. We are in the bread basket of crops in our area. Saw a lot of beans that have died with SDS (Sudden Death Syndrome). Degree days are 2100 in Kanawha. We are behind 389 at this point - about 74%. Speaking of Kanawha Research reminds me we lost a great warrior in research this weekend with Norman Borlaug. Was a neighbor of our family up at Saude, Iowa. Next full moon is October 3rd so hold your breath. Grain Prices are volatile - Fall corn about $3 and beans about $7.50 to 8.00. Will probably open soft this morning. Keep close track! Another great weekend of weather! Well, we should be settled down to “regular” week for school and politics, if there is such a thing.
Went to Sioux Falls this weekend for a half marathon. Beautiful city with trails along the river. I took pictures at start, middle and finish of son who was running - 1500 runners! Took in a lot of different crops. Things look really good around here. We saw quite a few beans that have quit for the year as we went into western Iowa. Could probably draw a soil map by looking at them Probably a lot of compacted soil or really dry soil as you head to NW Iowa. Now is a great time to get one of your friends that flies an airplane to take you up. The best way to look at reaction to soil conditions and moisture problems is to take your colored soil map and fly over your farm. The Supply/Demand report was neutral on Friday. A little higher prediction for per acre was all, but I am not sure that is a lock. Talked with quite a few farmers and dealers at the Spencer Fair on Sunday. They think we are over predicting. Heard that the yields from sweet corn contract were really high. Say, Al, I learned something new at the fair about corn. That is what I like about going to the fair. Did you ever hear of Broom Corn? Saw a sample of it. Had to go home and read up on it. Real big in the 1800’s. Yes it was used for making brooms. Looks a lot like millet or sorghum. This is your last chance at fair for 2009. A great time to visit and learn something new. My favorite is the DNR cabin. Check out the spiders this year. The web of the funnel spider was amazing.
Call or stop in to see us if you have any questions in any of our three offices. Stop in and see how the cash flow works with $2.72 corn with 165 bushels……$450/Acre gross……. We need a bit more than that.
Maybe you sold at $3.50….$577.50 makes quite a difference. Maybe you can make up with 200 bushels… Have a coop annual meeting this week at our Community Room with Forest City Coop. Always enjoy them to see how everyone is doing.
Remember that you should deal with people in community banks and organizations. When you work with them, you know that you will also see them sitting with you at ball games, church or community events. So, if in doubt give us a call.