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Strategies & Market Trends : Taking Advantage of a Sharply Changing Environment -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (4455)	12/6/2020 12:25:22 PM
From: robert b furman	1 Recommendation Recommended By Doug R Respond to of 6355

HI Doug, My bet is the bean inventory will be down more the result of soybean prices being at or near breakeven for the last many years. Just two years ago bean growers were given $1.68 for subsidy (twice) as China's targeted pain on US farmers. A farmer has to see possible bankruptcy only once or twice and his plans on repeating the rotation on his lands begin to get modified. I've seen farmers move to sunflower seeds and winter wheat or rye in lieu of soybeans due to poor recent pricing. Now I do say that Wisconsin doesn't show on big crop reports. Due to the uniqueness of our primarily Dairy farm operations, our dairy farmers do not grow crops for export. They grow crops that are consumed by New Holstein Cows for the production of milk ,that has a high butter fat content. To grow the crops at a wholesale cost, is more efficient than buying at the market price which can sometimes get a boost. In fact, the farmer who leases my acreage told me that 20 years ago soybeans were never planted in Wisconsin (The benefits of GMO seed). Since my land is on a watershed, it must be planted "no till". The farmer also told me it wouldn't have been doable only 3 years back as he just bought a used John Deere tractor that had more horse power to pull his also newly purchased "No Till" seed drill. The times evolve. Bob