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Transcript

2023 Crop Tour Day 5 · Professional Ag Marketing Podcast

• 0:01
  SPEAKER_01: Welcome to the Professional Ag Marketing Podcast.
• 0:04
  SPEAKER_01: If you want a deep dive into the ag markets and risk management strategies, your search is over.
• 0:10
  SPEAKER_01: Come here after every Friday to get your weekly commodity recap.
• 0:14
  SPEAKER_01: Trading commodity futures and options involve substantial risk of loss and is not suitable for all investors.
• 0:21
  SPEAKER_01: This is your host, Mike Minor.
• 0:22
  SPEAKER_01: Let's get started.
• 0:23
  SPEAKER_01: Today is August 11th, and I have Jace and Corey here with me.
• 0:27
  SPEAKER_01: We just wrapped up the fifth day of the crop tour, the final day here.
• 0:31
  SPEAKER_01: So we're going to talk a little bit about our final day route.
• 0:34
  SPEAKER_01: How's it going, Jace?
• 0:35
  SPEAKER_00: Yeah, so we started in Cedar Rapids this morning and made our way back to Laverne, back to the office.
• 0:41
  SPEAKER_00: And I guess what we noticed at first was they started the season out a little wetter over on the eastern side of Iowa.
• 0:48
  SPEAKER_00: And they're drier now and they'll need a little more rain.
• 0:51
  SPEAKER_00: And I guess we saw some of the more droughts drought stress stuff than we've seen the whole tour besides Missouri.
• 0:59
  SPEAKER_00: And I guess, yeah, that's about it.
• 1:02
  SPEAKER_01: Nice.
• 1:02
  SPEAKER_01: Corey, uh, tell us a little bit more about uh so we had a couple stops.
• 1:06
  SPEAKER_01: Can you tell me a little bit about the uh first stop we had today?
• 1:10
  SPEAKER_02: So our first stop was in Blackhawk County.
• 1:12
  SPEAKER_02: And Blackhawk and Cassooth, where we both stopped, they were both about the same story.
• 1:18
  SPEAKER_02: Not too much different.
• 1:19
  SPEAKER_02: The conditions weren't great.
• 1:21
  SPEAKER_02: There's a huge variety from and you could definitely tell where the sandier soil was and where the good soil was.
• 1:27
  SPEAKER_02: And there's just huge variety in the samples that we pulled and also in the the conditions of the corn.
• 1:34
  SPEAKER_02: There was a lot of tip back on a lot of the corn in both of the counties, and you could definitely see that the different practices, the farming practices, which ones were good and working and which ones definitely were not.
• 1:47
  SPEAKER_01: That makes sense.
• 1:48
  SPEAKER_01: The sins of farming really showed up this year.
• 1:50
  SPEAKER_01: It uh um that definitely made an impact.
• 1:53
  SPEAKER_01: So yeah, I would agree as we moved more north in eastern Iowa, the conditions got uh a little bit worse and drought conditions were worse over there this year, especially versus western Iowa.
• 2:06
  SPEAKER_01: Um and even Illinois, they've been receiving some recent rains that were a little bit bigger.
• 2:11
  SPEAKER_01: Uh but the Iowa, Iowa region in the east there just hadn't got quite as much uh relief.
• 2:16
  SPEAKER_01: And as we moved north more towards the Minnesota border, uh that area started to look a little bit worse.
• 2:23
  SPEAKER_01: And when we started to go west, we really didn't see any relief until about Algona.
• 2:28
  SPEAKER_01: So once we got to Algona, then kind of west of there, we started to improve again.
• 2:33
  SPEAKER_01: And uh it's like you said, it's mainly good ground versus bad ground.
• 2:37
  SPEAKER_01: The bad ground was showing stress, but the good ground still has potential.
• 2:41
  SPEAKER_01: If you get some of these recent rains and uh the decent forecast going forward, we can finish it out okay, but I think that is gonna hold Iowa back uh a little bit on their yield uh from what we probably could be.
• 2:54
  SPEAKER_01: So we are looking at a situation in Iowa around 197.
• 2:58
  SPEAKER_01: Um hopefully it gets a little bit better than that.
• 3:01
  SPEAKER_01: Hopefully we continue to find some of these rains, but the east is is gonna have a hard time this year, and the west is good.
• 3:08
  SPEAKER_01: We'll just see if the west can be good enough to offset the eastern side of the state.
• 3:13
  SPEAKER_01: So it's kind of flip-flopped from last year.
• 3:15
  SPEAKER_01: East was really good last year in Iowa, and the western portion uh was struggling a little bit.
• 3:20
  SPEAKER_01: So we'll see what that state comes out with here, anyways, today.
• 3:24
  SPEAKER_01: Uh, thank you for your time, guys, and uh check on in to our uh final crop estimate here.
• 3:30
  SPEAKER_01: We'll go through the national average yield and uh we'll give you an update.
• 3:34
  SPEAKER_01: Thanks.
• 3:35
  SPEAKER_01: And thank you to all our listeners.
• 3:36
  SPEAKER_01: Please reach out to us at professional eggmarketing.com.
• 3:40
  SPEAKER_01: Check out our other podcast as well, Professional Egg Marketing.
• 3:44
  SPEAKER_01: It's released every Friday.
• 3:45
  SPEAKER_01: Trading commodity futures and options involve substantial risk of loss and is not suitable for all investors.
• 3:51
  SPEAKER_01: See ya next time.