Farmers paying attention to weather and commodity prices - KWWL - Eastern Iowa Breaking News, Weather, Closings

Farmers paying attention to weather and commodity prices


Farmers in Iowa have been playing catch up on what has been a lagging planting season. According to the U.S. Departments of agriculture last week over 60 percent of Iowa's corn crop was planted last week. That was in part of the warmer, dryer weather.

"It's phenomenal. I was talking with one producer, he said several years ago it took him two weeks to put in 400 acres of corn and he put in 800 acres of corn in five days," said Wil Manweiler, Dunkerton CO-OP.

Manweiler grew up on a farm and now is the Grain Department Manager at the Dunkerton CO-OP.

He say's last week many farmers were feeling the pressure to start planting

"Everybody in the industry was feeling the pressure with the rain earlier."

As the grain manager, Manweiler says along with the weather farmers also keep their eyes on those commodity prices.

"As commodities go up your input and everything else goes up. Price of fertilizer and everything goes up."

This year is different then some years past. Corn and soybeans are both trading at all time record high.

According to the USDA about ten years ago corn prices were averaging at about two dollars a bushel and now they are about an average of six dollars.

"At a certain point you start killing that demand and if we can keep it where the livestock producers are making money, the ethanol plant is making money and grain farmers are making money. Trying to keep everyone happy that's good, but if you get too high then you kill demand," said Manweiler.

Farmers and producers haven't seen a spike like this since 2008. Manweiler says those prices can get too high, but they don't know exactly where that peak is.

U.S. corn surpluses are expected to increase higher than anticipated this summer. Corn prices are projected to increase to 730 million bushels in late August. That is up from last months estimate of 675 million bushels.

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