So nice to have some moderating weather! Farmers have to be reeling with this new marketplace today! I bet many forward contracts got surpassed this weekend and the procastinators got rewarded for not doing anything.
Prices of all three commodities are about as good as they have been all year, so we really can't complain now. The farmers who hedge positions and made a profit at the bottom have bought back in and riding it to the top again. Those very few, rare people are making money at both ends!
Me, I will be happy with just a profitable net price I can live with. I can live with all of the prices today until inlfation sets in and all my inputs go up again. It is a constant game of "catch up."
Inbetween, a handful of farmers will have record crops, most will have less than last year and a few will have really poor crops. I guess it is like that somewhere every year. This is where crop insurance comes in and most carry it because most farmers borrow money to put out a crop and a lender is going to require you to carry crop insurance.
I got a little check finally for my little bit of replant corn. If I had my drainage straightened out on these farms I wouldn't have needed it because it was basically cosmetic anyhow. You had a narrow window to do it once and do it right and I doubt that replant will pay for me. Hopefully you are different if you had to replant.
That's where it stands here on the first of August.