Producer Page: Spring 2017

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Created: Monday, 01 May 2017 10:55
Written by Mark

Ccccold corn--- Typical Minnesota weather….working in a Tshirt over the weekend and seeing snow showers a few days later.  The big topic for farmers this past week has been the decision to plant or not.  Soil conditions for most were pretty good but the forecast was not.  Agronomic research has provided us with some guidance regarding this tough call.  Imbibitional chilling injury is the primary concern in these conditions.  Imbibition is the name for the process where the corn seed absorbs water so it can germinate.  So if soils are below 50 degrees and the corn gets a drink of cold water it can damage cell membranes and  lead to poor emergence and “cork-screwing” of the coleoptile (the first seedling leaves trying to emerge).  The critical time factor seems to be the first 24-36 hours after planting.  So if the forecast is for colder temps and rain, most agronomists will recommend stopping the planter 1-2 days prior to the rain event.  Extended periods of cold soils can lead to injury of any planted seed (not telling you anything you didn’t already know).  Today’s seed is very high quality, so hopefully with a little help from Mother Nature, the planted acres thus far will do fine, but scouting for emergence issues will be recommended.

Depth Do’s & Don’ts--- This can be a matter of opinion, but most agronomists will contend that you need your corn to be planted at a 2 inch depth.  Planting shallower can lead to more uneven stands due to inconsistent germination zone moisture and also it hurts the development of the nodal root system which reduces the uptake of water and nutrients and can lead to lodging issues.  Soybeans on the other hand are recommended to be planted at 1.5 inches(as long as there is adequate moisture).  Planting deeper than that may lead to uneven emergence as plants struggle to come up and enter the early growing season with reduced vigor and lower energy reserves.

Price Pointers--- Remember that there are two components of the price for your grain……futures price and local basis.  We are in an unusual spot this year with lots of unpriced grain in the bin from last year’s bumper crop.  If all that needs to come to town at the same time later this summer, it is possible that basis will widen even further.  So if the futures rally, you may not see a better local price.  Check with your grain buyer to get their opinion on this situation and check around for bids or opportunities to fix basis ahead of cash sales if you feel that is advantageous to you.

Remember Me???---When is the last time you checked your grain bins??  Too wet to be in the field, good time to visit that grain you are storing.  Make sure someone is with you, or at least knows you are going into bins and be careful climbing up and down.

Tax Tidbits--- We just wrapped up filing our 2016 taxes.  Now is a good time to review how that process worked for you.  Did you feel organized at year-end and get a thorough tax planning process completed??  If not, why not?  Make changes in your accounting now, so that you are not scrambling to gather up info at the last second next March 1st, with no idea what you might owe.  A good rule of thumb is that you should be no more than one month behind in your records.  If you can’t keep up with that type of pace, you should consider a record-keeping service.  Your farm probably generates as much or more revenue and expense as most Main-Street businesses and they almost certainly have a book-keeper or system in place to make financial information almost immediately available.

Tech Time--- Very soon Peoples State Bank will be going “mobile” with new tools for mobile deposit and banking.  We already have internet banking capabilities and a very helpful bill-pay service available at our web-site.  We just started a Facebook page too.  We are trying to make our institution available for you around the clock, you have busy lives and we want to make your banking experience as convenient as possible.  Don’t worry, we will still have all the “old-fashioned” customer services waiting for you here at our facility in Wells if you don’t want to utilize the new technologies.

Blog Bits--- Along those lines, I will be switching over to a “blog” for this Producer Page info.  You will find it on our website and I will try to provide some timely items for your review.  We will try to alert you by email when we post something new.   Please be safe this spring!!!!!!!!!!!!