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Orange Blossom Wheat Midge Larvae observed on the soils surface on June 2nd. With the cool temperatures and late planting we are setup for a heavy midge flight. Please stay tuned for updates. Also do not hesitate to call with any questions.
Sometimes keeping track of all the suggestions, scientific studies, and geographical trends can be confusing and hard to wrap your head around. Our Agronomy Hot Topics list is here to provide a searchable database of topics that pertain to you and your successful culture in ag related businesses.
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Agronomy
We are all aware of the volatile grain market, and know our nutrients are following the same pattern. If I had a crystal ball that told me where these markets would go I would be rich and sitting on a beach somewhere sipping on a beer, instead I am putting more clothes on while drinking hot chocalate. With all the information available to us now days, we still have a hard time predicting trends in these markets. In this, the first managers update, I will outline a few strategies that might help in decision making. Also I will briefly discuss where we see these fertilizer prices going.
Cost of production is the ultimate tool that will help you make good decisions. Pencil out the cost to produce a bushel based on conservative yield estimates. Using current fertilizer prices and the current grain prices you should be able to see if there is a net profit. At today’s grain prices versus fertilizer prices, depending on your fixed costs, there should be a net profit available. As I mentioned your fixed costs will not change but make sure that is included when you look at your cost of production. The one thing you do have control over is grain and fertilizer prices. Our suggestion is to look at locking in 25-30% of your 2011 crop at the same time you lock your fertilizer prices. Now you have hedged your risk on fertilizer prices with a grain price that will put money in your pocket, and cover the cost of your fertilizer inputs. If you need help with this please call and setup an appointment and I will help you go through the numbers.
As of today the fertilizer market is starting to move after the new year lull. Phosphate has made a $20/ton jump along with sulfate due to short supplies. Nitrogen however is still rather quiet, and is waiting to see where the price of grain will go. Also dealers have contracted a lot of tons in 2010 which has quieted demand thus far in 2011. Potash will be firm to higher in the short term as grain prices move and farmer demand is higher due to low soil levels. The closer we get to spring we will see more volatility as the fight or acres heat up. Please feel free to contact me with any questions and inquiries on prepay prices.
At CHS we are committed to bringing you dependable supply and competitive pricing.