This week saw range bound movement in most contracts of interest for the Texas High Plains. [Read more…] about High Plains Ag Week 6/7/19
High Plains Ag Week 5/31/19
Written with: David Anderson
Corn: The shortened week following Memorial day saw continued growth in grains and cotton with declines in the nearby live and feeder contracts. In the last three weeks DEC Corn ($4.326/bu) has climbed almost 20.0% on significant planting delays, particularly in the Midwest. As of May 26 the Crop Progress report has Texas at 93.0% complete in corn plantings, although I’ve heard of some delays in our northeastern counties. The Texas A&M AgriLife Extension budgets for District 1 estimate a break even price for irrigated corn of $4.01. Given the increasingly uncertain trade environment (more on the newly proposed tariffs on Mexican products later), and the stage of production for the year, this might be a good opportunity to protect production with some puts or another form of risk management. [Read more…] about High Plains Ag Week 5/31/19
High Plains Ag Week – 5/24/19
This week showed near $0.50 gains in DEC Corn over continued planting delays. By the beginning of next week, expect only 50.0% of the total crop to be planted at most, with significant production states severely behind due to rainfall that will almost certainly lead to prevented plant decisions (if the new MFP announcement doesn’t distort acreage, more on that later). [Read more…] about High Plains Ag Week – 5/24/19