With poor crop conditions and a record amount of prevent plant weighing on farmers' balance sheets in 2019, one economist thinks MFP 2.0 may not be enough to get net farm income back to a level needed for some stability.
One way to judge the cost/benefit is to estimate drying costs and dividing that cost into the local price of corn to give you an idea of the percent corn loss you could withstand by waiting and harvesting later
Corn and soybean producers aren’t the only ones feeling the squeeze of wet weather. Cattle and dairy producers are left wondering what this means for their access to feed, and how soon they should lock in inventory.
With the phase one trade deal with China official, farmers are expecting more positive momentum in the markets. However, they shouldn’t expect an extension of the MFP, according to USDA Secretary Sonny Perdue.
Hot and dry cornfield conditions are breeding grounds for dangerous aspergillus ear and kernel mold that produces aflatoxins. This toxin is a carcinogen, can harm livestock and can lead to rejection at the elevator.