The later that corn is planted, the more vulnerable it is to extreme heat during the critical pollination period this summer, which in turn can impact the national average yield. But with rising demand and extremely tight carryover supplies, there’s no room for error. “This has been far from a perfect growing season,” notes Michelle Lamirande, commodity research analyst with Farms.com Risk Management.
Switching to short-season corn would cut yields as well, but generally that’s not recommended until near June 1.
“Weather remains the key factor for corn (and soybean) price movement, but it’s still early and we will get a lot more acres planted before the prevent plant days happen,” Lamirande says. “We will have to wait to see how many acres are shifted from corn to soybeans as this wet weather forces planting to be delayed.”
As of the start of this week, she doesn’t believe that the weather impact has been factored into the markets. Looking ahead, she advises farmers to keep an eye on weather developments, flooding and issues in the Middle-East due to oil’s influence on corn.