| If you've got too much forward contracted and not sure your gonna raise a crop.. buy Soybeans.. It's the most stubborn to face reality so far.. and the Funds remain super short.
When I put a balance sheet together yesterday we cut carry out in half. If we can get back into the fields in June..?? Guys are gonna try to finish the feed grains or plant sorghum.
At these price levels Soybeans will lose acreage.. be the last one planted.. and like U of Ill shows.. you are better off just taking PP.
At some point the Soybean market must buy acres.
Look at the numbers.. we dont know how much yet.. but some fields will not see a crop this year.
The picture below. is a field flooded.. that's not a mudhole.. that's the water table.. and in order for that to go down they will have to drain out the resevoir below us.. which they just opened the flood gates yesterday.. as an emergency precaution..sending 4,000 cfs down stream.. flooding out the low ground there..
WITH 2.. 3.. 5" more forecasted on the way..
The neighbor down the road says his 70 something year old father has seen conditions like this.. only a couple times in his career.
We had 8" since last Friday. . at that location.. That field in the pic will not see a planter before July.. if then..
Edited by JonSCKs 5/23/2019 07:51
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