Latest / Professional Ag Marketing Podcast / 2024 Crop Tour Day 3

Transcript

2024 Crop Tour Day 3 · Professional Ag Marketing Podcast

• 0:01
  SPEAKER_00: Welcome to the Professional Ag Marketing Podcast.
• 0:04
  SPEAKER_00: If you want a deep dive into the ag markets and risk management strategies, your search is over.
• 0:10
  SPEAKER_00: Come here after every Friday to get your weekly commodity recap.
• 0:14
  SPEAKER_00: Trading commodity futures and options involves substantial risk of loss and is not suitable for all investors.
• 0:21
  SPEAKER_00: This is your host, Mike Minor.
• 0:22
  SPEAKER_00: Let's get started.
• 0:23
  SPEAKER_00: Today is August 6th.
• 0:25
  SPEAKER_00: I've got Dylan with us here today.
• 0:26
  SPEAKER_00: How's it going, Dylan?
• 0:27
  SPEAKER_01: I'm not doing too bad.
• 0:28
  SPEAKER_01: How about yourself, Mike?
• 0:29
  SPEAKER_00: Oh, pretty good.
• 0:30
  SPEAKER_00: So we've got day three of the professional ag marketing crop tour wrapped up.
• 0:35
  SPEAKER_00: Uh go check out our main page on professional agmarketing.com with the uh dash crop tour, that crop tour page under the grain section.
• 0:43
  SPEAKER_00: We've got a bunch of cool tools.
• 0:45
  SPEAKER_00: Go in there.
• 0:46
  SPEAKER_00: You can adjust the state yields to uh see where you want the national average to come out at as well and send us what you find, along with a yield sample uh calculator, a yield calculator for your field as you can punch in your samples and find out what you expect that yield to do.
• 1:02
  SPEAKER_00: Alright, so uh really cool website this year, but let's get started.
• 1:06
  SPEAKER_00: A little bit of a red day today after we saw the markets really flip.
• 1:10
  SPEAKER_00: Uh yesterday we saw equities down really hard, then we saw the grain markets up, uh today we saw the equities back up and the grain markets back down a little bit here today, so down a penny or so on the corn on December, down about 14 on the November beans.
• 1:27
  SPEAKER_00: Let's look at the crop tour to so where did we travel from today, Dylan?
• 1:32
  SPEAKER_01: Yeah, so we started off today near uh India Indianapolis, uh headed east into Ohio.
• 1:37
  SPEAKER_01: Uh saw some good looking corn there.
• 1:40
  SPEAKER_01: Uh got into the south and west part of Ohio, could see some drought creeping in that way.
• 1:45
  SPEAKER_01: Um finished in Ohio and headed our way back through Indiana towards Illinois.
• 1:50
  SPEAKER_00: Alright.
• 1:51
  SPEAKER_00: Uh beautiful recap of the day.
• 1:53
  SPEAKER_00: We had uh really good, consistent crop pretty much all the way through today, I would say, one of the better looking days uh that we've seen.
• 2:01
  SPEAKER_00: Uh better part of the United States for growing area, anyways, and uh we saw some really nice crops.
• 2:07
  SPEAKER_00: So we uh we spent a good portion of the day in Ohio uh looking at uh a wonderful farm there.
• 2:14
  SPEAKER_00: We were blessed with uh some wonderful company from a farmer there uh north of Columbus, Ohio, and uh we were able to gather up some uh samples where that area had experienced pretty split planning.
• 2:27
  SPEAKER_00: Uh we had some nice planning time frame between like uh April 20th to uh about a week there, he said they got, and then they had a break all the way until about the last 10 days or so of May before they could get back in the field again.
• 2:40
  SPEAKER_00: So a little bit of variety in the crops on uh maturity.
• 2:44
  SPEAKER_00: But we did see uh some pretty good crops out there.
• 2:46
  SPEAKER_00: Yet again, they recovered for a little bit, and then we started to turn dry in the area kind of the end of June would be the drought map, saying uh it started to trend a little bit hotter, and now they've been getting by with some rains here.
• 2:58
  SPEAKER_00: They're a little bit spoon-fed for that individual area right there.
• 3:02
  SPEAKER_00: They've caught some really nice rains, maybe compared to the rest of the state.
• 3:06
  SPEAKER_00: The south side of the state, they're a little bit more uh uh colorful on the drought map, and same with the eastern side of the state as well.
• 3:13
  SPEAKER_00: Uh that part uh looking pretty good here yet, Dylan.
• 3:16
  SPEAKER_00: If you look at their operation and kind of what they saw last year, you know, if they were getting some yields around the 230s, uh, they thought they could probably get that again this year, even with the roller coaster stop that they or roller coaster start to the season that they've had with uh too wet early, then a little bit of a dry spell and been getting spoon-fed some rains here.
• 3:37
  SPEAKER_00: Uh they had another two inches over last weekend, so it it's eaten that moisture up pretty quick.
• 3:43
  SPEAKER_00: Like that two inches, I think, disappeared pretty quick uh out of the field, and he thought it did too.
• 3:47
  SPEAKER_00: But yeah, I mean they're spraying funic side, it looks pretty good.
• 3:51
  SPEAKER_00: We one of the things we're looking for in this area in particular is uh tar spot.
• 3:55
  SPEAKER_00: We don't have a whole lot of that in the Western Corn Belt yet.
• 3:58
  SPEAKER_00: Last year we saw some creep into Yankton, that would have been the first in South Dakota.
• 4:03
  SPEAKER_00: Uh this year we haven't seen any yet.
• 4:05
  SPEAKER_00: Um, you know, out here it's pretty prevalent.
• 4:07
  SPEAKER_00: They try to spray funge side multiple times.
• 4:10
  SPEAKER_00: They had just gone through most of their fields here about a week or two ago, and they're gonna hit it back again, uh, go for a second time over the over the corn.
• 4:18
  SPEAKER_00: So uh a very high input situation once you get uh tar spot going around.
• 4:24
  SPEAKER_00: Uh once you get it, it can be very difficult to get rid of uh fungal disease, I believe.
• 4:28
  SPEAKER_00: So it's uh uh a little bit different situation out in the eastern corn belt than what we've got back home, and uh something worth noting, I think, is that starts to creep west and north a little bit into our part of the world.
• 4:39
  SPEAKER_00: So we did see we had to look pretty hard to find some in their fields, which was a really good problem.
• 4:44
  SPEAKER_00: Not a whole lot of mold or anything like that as well.
• 4:46
  SPEAKER_00: Uh disease pressure wasn't too bad.
• 4:48
  SPEAKER_00: Yeah, the one thing I've noticed is we haven't seen a whole lot of bugs, uh, maybe some aphids and corn, actually, which was a little bit interesting, but otherwise, uh not a whole lot of those big old Asian beetles like I typically see on the crop tour this time of the year.
• 5:02
  SPEAKER_00: Uh rained on us a little bit today through Indiana in the northern eastern part of the state.
• 5:08
  SPEAKER_00: Uh picked out some pretty good uh year samples there as well.
• 5:11
  SPEAKER_00: But what did we come up with for the Ohio average for the entire state there?
• 5:16
  SPEAKER_01: Yeah, we're gonna anticipate a yield of 192 for Ohio.
• 5:20
  SPEAKER_01: What was the prior record?
• 5:22
  SPEAKER_01: Uh record yield of 198 and that occurred last year.
• 5:27
  SPEAKER_00: Yeah, so I mean their yields they thought they were bumping right up against last year's samples.
• 5:31
  SPEAKER_00: Um we uh uh from what we saw, we could easily see Ohio doing a record, I guess, this year.
• 5:37
  SPEAKER_00: If if uh they have a good finish here, I wouldn't be surprised if it did.
• 5:41
  SPEAKER_00: So uh another nice staple, I guess, for the Eastern Corn Belt to uh have that 181 type trend line yield.
• 5:48
  SPEAKER_00: Ohio isn't gonna try to drag us off of that too bad at all.
• 5:51
  SPEAKER_00: I think it's probably just gonna add to it.
• 5:53
  SPEAKER_00: So uh any final thoughts other than that today?
• 5:57
  SPEAKER_01: Uh nothing, nothing too much.
• 5:58
  SPEAKER_01: It'll be interesting to see what we finish off with in Indiana and Illinois tomorrow.
• 6:03
  SPEAKER_00: All right.
• 6:03
  SPEAKER_00: Well, thank you for your time, Dylan.
• 6:05
  SPEAKER_00: If you have any questions, any suggestions, let us know uh on uh Twitter.
• 6:10
  SPEAKER_00: Follow along there as well.
• 6:11
  SPEAKER_00: Uh, thank you for listening to the podcast today, and remember to go on our website.
• 6:15
  SPEAKER_00: We've got some pretty cool interactive tools and uh look forward to chatting with you guys.
• 6:19
  SPEAKER_00: And thank you to all our listeners.
• 6:21
  SPEAKER_00: Please reach out to us at professionaleggmarketing.com.
• 6:24
  SPEAKER_00: Check out our other podcast as well, Professional Egg Marketing, that's released every Friday.
• 6:30
  SPEAKER_00: Trading commodity futures and options involve substantial risk of loss and is not suitable for all investors.
• 6:36
  SPEAKER_00: See you next time.