|
 After
early May, things turned much drier allowing for field work and
planting to be completed in a very short time frame. After a dry
period for much of June, a damp period through early August provided
very good weather for pollinating and filling corn and setting and
filling pods for soybeans. A warm and dry period from late August
through mid-October provided great conditions for crops to mature
and then dry down. This has allowed for a good harvest pace on good
crops.
Prices for corn and soybeans have been a major area of concern. Fall
cash prices are falling short of projections needed for breakeven
according the Illinois Crop Budgets publication from Paulson,
Schnitkey, Zwilling, and Zulauf. The 2024 projections are for $4.71
per bushel corn and $11.31 per bushel for soybeans. Many factors go
into these figures including a supposed 240-bushel corn yield and 77
for soybeans, direct costs for corn of $488 and $244 for soybeans,
also power and overhead costs, then the land cost of 359 per acre.
All-together, the projections show estimated losses of $161 per acre
for corn and $53 for soybeans. There are some ways to minimize those
losses such as living off of depreciation for a short time, having
exceptional luck on things such as repair costs, having relatively
low interest costs, and other factors including lower land costs per
acre on average.
The other part of the equation
is yield. This could also temporarily help reduce losses or even
work toward turning a profit. Early yield reports were very good, so
there will be producers who have crop yield averages above those
used for the projections. The crop budgets are based on presumptions
and averages, and every producer’s situation is different and will
have individual results. Just remember great yields this year may
put pressure on prices next year as well.
Many topics in natural resources continue in the rural areas as
well. The continued interest in growing wind and solar power in our
area is probably the preeminent issue. Several smaller solar
projects are in various planning and approval processes, as are a
few approved wind energy projects set to begin work shortly. Carbon
sequestration wells and pipelines seem to be on a moratorium
statewide for now. Waters of the United States (WOTUS) also
continues to be a very hot topic in Rural America. The
interpretation of the rules regarding WOTUS will be very dependent
on election results and the corresponding appointments of agency
personnel.
[to top of second column] |
Technology continues to evolve
in agriculture. Equipment, sampling, application, and analysis all
get wrapped up in some packages available to producers and ag
industry personnel. Examples would include variable rate of
application for fertilizers and pesticides, variable rate seeding,
and pesticide application with drones. All of these technologies are
being used currently, and are dependent on connectivity to GPS and
cell signals in most cases. The continued improvement in rural high
speed internet availability also improves the opportunities for
using some of these cutting-edge technologies, and even updating
equipment software on the farm.
As fall harvest winds down, and field work continues, may everyone
be safe in the fields and on the roads. Being aware and being
patient will help everyone on the rural roads this fall. Enjoy the
fall, and get ready for the next season!
 |
