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is there a drought premium factored in the grain markets ?
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northmofarm
Posted 11/22/2012 16:15 (#2711119 - in reply to #2711099)
Subject: Re: is there a drought premium factored in the grain markets ?


Not yet for 13 prices but there will be by the end of feb if things don't change. If it does not rain or snow in ne, sd, ks or co then there's little moisture for spring rains and its already dry in mo, Ia, mn. Drought breeds bigger drought. The air has been bone dry here with no humidity for 15 months now. Ponds are going dry and they will all freeze dry this winter. There's still 4 months for things to change, but it does not appear so at the moment. I can see crop insurance in feb setting at 7 bucks for corn if its still dry. That will get at least 75 percent of my acres to corn. It just pays so much better if we have another drought than raising 20bu beans again.
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