Minn-Star Bank Farm Management Analyst Kent Thiesse says corn farmers have a decision to make. They can plant the crop with a late planting provision, switch up acreage or take prevent plant. The prevent plant payment is 55 percent of a farmer’s crop insurance guarantee. “We had very good guarantees, because there was a $5.90 spring price. Its yield multiplied by the spring price multiplied by the coverage level. If you don’t have fertilizer applied, the option may look attractive to some.” Ultimately, the decision comes down to economics. “Farmers want to get the crop planted, but do they want to plant the crop if yield odds aren’t good? When is the normal first frost date? They’ll probably be dealing with wetter corn in the fall, which means higher drying costs.”
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