Straight-Up Disaster Looming For US Soy, Corn - Plantings Weeks Late, Approaching Cut-Off

[hatrack]

EDIT

2019 is turning out to be a nightmare that never ends for the agriculture industry. Thanks to endless rain and unprecedented flooding, fields all over the middle part of the country are absolutely soaked right now, and this has prevented many farmers from getting their crops in the ground. I knew that this was a problem, but when I heard that only 30 percent of U.S. corn fields had been planted as of Sunday, I had a really hard time believing it. But it turns out that number is 100 percent accurate. And at this point corn farmers are up against a wall because crop insurance final planting dates have either already passed or are coming up very quickly. In addition, for every day after May 15th that corn is not in the ground, farmers lose approximately 2 percent of their yield. Unfortunately, more rain is on the way, and it looks like thousands of corn farmers will not be able to plant corn at all this year. It is no exaggeration to say that what we are facing is a true national catastrophe.

According to the Department of Agriculture, over the past five years an average of 66 percent of all corn fields were already planted by now…

U.S. farmers seeded 30% of the U.S. 2019 corn crop by Sunday, the government said, lagging the five-year average of 66%. The soybean crop was 9% planted, behind the five-year average of 29%.

Soybean farmers have more time to recover, but they are facing a unique problem of their own which we will talk about later in the article. But first, let's take a look at the corn planting numbers from some of our most important corn producing states. I think that you will agree that these numbers are almost too crazy to believe…

Iowa: 48 percent planted - 5-year average 76 percent

Minnesota: 21 percent planted - 5-year average 65 percent

North Dakota: 11 percent planted - 5-year average 43 percent

South Dakota: 4 percent planted - 5-year average 54 percent

EDIT

I would use the word "catastrophe" to describe what Illinois farmers are facing, but the truth is that what they are going through is far beyond that. Normally, if corn farmers have a problem getting corn in the ground then they just switch to soybeans instead. But thanks to the trade war, soybean exports have plummeted dramatically, and the price of soybeans is the lowest that it has been in a decade. As a result there is very little profit, if any, in growing soybeans this year…

EDIT

https://seekingalpha.com/article/4264532-total-catastrophe-u-s-corn-production-30-percent-u-s-corn-fields-planted-5-year-average-66?fbclid=IwAR3aR9GIxIGf37vBO15lZ1FwgsL8WdWDbDqYvZ12QWWKObrYidtSieZ-zNc#comments

[rurallib]

1. Saw a couple farms trying to plow going in to town Thursday

but both had quit after only a short run by the time I come home.

Don't know if those heavy tractors could get stuck in those saturated fields, but if they ever could this would be the year.......
more rain tomorrow.

[hatrack]

2. Yep. Big storms all day today from TX/OK panhandles well to the NE . . .

Even worse - lots and lots of rain well beyond the severe weather hazard zone.

[OnlinePoker]

3. You'll be able to check out the progress later today at this link

They release the data at 4PM

https://usda.library.cornell.edu/concern/publications/8336h188j?locale=en

[duforsure]

4. Trump"s doing to the farmers

Like he"s done to bankers and contractors, and using bait and switch tactics on them , and will claim he"ll do things he"ll later have another excuse for not doing it,and blame others. he"ll just lie to them all like he"s been doing.

[sop]

5. Yeah, but Trump's doing a lot for the Brazilian Batista brothers

"The Trump administration has forked over more than $62 million — taxpayer cash that was supposed to be earmarked for struggling American farmers — to a massive meatpacking company owned by a couple of corrupt Brazilian brothers.

"The bailout raised eyebrows from industry insiders at the time, as it was sourced from a $12 billion program meant for American farmers harmed by President Trump’s escalating trade war with China and other countries.

"But previously undisclosed purchase reports obtained by the Daily News this week reveal the administration has since issued at least two more bailouts to JBS, even as Trump’s own Justice Department began investigating the meatpacker, whose owners are Joesley and Wesley Batista — two wealthy brothers who have confessed to bribing hundreds of top officials in Brazil. Both brothers have spent time in jail over the sweeping corruption scandal."

[sandensea]

10. It figures that Cheeto would go out of his way for Latin despots and their cronies

He's also trying to bailout his hopelessly corrupt and incompetent old buddy in Argentina, Macri, with a $56 BILLION bailout.

Not directly; but by way of an IMF stand-by loan which their board recommended against as "unsustainable" - rammed through, according IMF South America Director Roberto Cardarelli, on Trump's explicit orders.

Trump is doing this because elections in Argentina are 5 months from now, and the hard-right Macri is down in the polls by 10% or more (and with 24% job approval).

He's been led to believe that merely by stabilizing the peso until October, Macri might be re-elected. But this ignores the elephant in the room: that Macri has pushed Argentina into a severe recession as well.

Suffice it to say, Argentina will not be able to repay the IMF under the current terms (within 4 years). This will be the case whether or not Cheeto's pal is re-elected.

Meanwhile, American farmers are left in the lurch. Maybe the IMF will help.

[Fresh_Start]

6. Let them become migrant workers...

there is always lots of backbreaking work to be done.

[IronLionZion]

7. If they didn't have enough to deal with, Trump's trade war is screwing them more

with fewer buyers for American corn and soybeans. I can see a lot of farms going under and/or turning against Trump because of this. There's only so much a person can take.

[dixiegrrrrl]

13. we're gonna get screwed too.

Corn and soy is in almost every processed food in the grocery store, so prices will go up b/c scarcity.

Beef and milk cattle are fed corn.
Chickens, too, in one form or another.

[durablend]

8. You vote for Trump and this is what happens

Can't say we didn't warn you, but we're just "Stupid baby-killing border-opening libtards"

[kimbutgar]

9. Is this natures karmic payback to these areas in the Midwest and south for voting for fat donnie?

[safeinOhio]

11. In Michigan, it use to be

every day after May 15 you got your corn planted, you lost a bushel per acre.

[Wellstone ruled]

12. Kind of true for most of the Midwest.

With the ground needing about ten days to dry out,there will be a ton of corn and beans just not going in at all.