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Corn prices keep slumping,
and farmers keep planting more

Original Article

Posted By: Ribicon, 5/28/2020 6:47:46 PM

Corn farmers are throwing another government-backed Hail Mary this year, planting more of the crop than in 2019 even though prices are near the bottom of a six-year slump. “They call it plant and pray,” said Al Kluis, a commodities broker in Wayzata. “What you want is a disaster in some other part of the Corn Belt or some other country.”(Snip) Demand can’t keep up with supply. Corn futures hovered around $3.15 per bushel last week, nearly a dollar less than a year ago. Farmers came into the spring with a large inventory of corn in storage, and demand for the commodity

Comments:

Never mind the effects of massive fertilizer runoff in the water supply; farmers plant to the maximum because of taxpayer subsidies. Crop insurance, of which 60% is funded through taxpayer generosity, right now guarantees crop revenue at 73¢ per bushel above the futures price. So why not? Plant 'til the algae blooms kill all the fish; Big Corn pulls more weight on K Street.

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Reply 1 - Posted by: Proud Texan 5/28/2020 7:13:16 PM (No. 424759)
Sounds litrke Ribicon has it all figured out. Pretty tpical for someone who hasn't got a clue about farming.
2 people like this.

Reply 2 - Posted by: Proud Texan 5/28/2020 7:14:04 PM (No. 424760)
Typical - sorry for misspell
1 person likes this.

Reply 3 - Posted by: DVC 5/28/2020 7:23:10 PM (No. 424773)
You get more of what you subsidize. And now the feds subsidize corn.
6 people like this.

Reply 4 - Posted by: Maggie2u 5/28/2020 7:39:37 PM (No. 424788)
Don't know if poster #1 is right about OP. I know nothing about farming but I am a shopper and where I live today's grocery stores are selling corn on the cob 4 for $2. Doesn't sound like prices are slumping in the Seattle area.
4 people like this.

Reply 5 - Posted by: Urgent Fury 5/28/2020 8:27:58 PM (No. 424816)
Well, we need the cobs because sombody bought up all the toilet paper.
6 people like this.

Reply 6 - Posted by: Sceptic 5/28/2020 9:59:33 PM (No. 424866)
Wonder how corn works in a pellet stove?
0 people like this.

Reply 7 - Posted by: DVC 5/28/2020 10:09:38 PM (No. 424875)
#6, if properly dried, very well. A friend farmed and always saved back some of his dry, shelled field corn each harvest to fuel his pellet stove. He said that it put out lots of heat.
3 people like this.

Reply 8 - Posted by: wildcat1 5/29/2020 12:33:11 AM (No. 424924)
"Sounds litrke Ribicon has it all figured out. Pretty typical for someone who hasn't got a clue about farming." Exactly. We plant what we think we can make a living with. Most people don't have a clue. The US government has had a cheap food policy since the 1930s. A prolonged drought and a few other calamaties would wake up a few more people. The so called beef shortage now is just one. Out here in flyover country we'll do just fine without New York and California. We have wheat for bread and pizza, corn for cattle feed AND ethanol, oil for diesel and gasoline, and natural gas for heat.. There is nothing we need on either coast. The ports in Texas can keep us supplied if we need imports.
3 people like this.

Reply 9 - Posted by: Heil Liberals 5/29/2020 12:52:37 AM (No. 424932)
Here is a real farm family. The son, Cole, explains how much it costs for them to run their farm for one year. Wake up America. The reality is not the same as your wild imagination.
2 people like this.

Reply 10 - Posted by: Heil Liberals 5/29/2020 12:53:08 AM (No. 424934)
Oops, forgot the link. https://youtu.be/Xsa46CXwfdY
2 people like this.

Reply 11 - Posted by: ussjimmycarter 5/29/2020 1:24:48 AM (No. 424950)
Farming is a very expensive business these days! And the knowledge needed to plant and harvest is not widely known in the country! We burn our food (corn) in our cars while we are awash in oil! Wow! Liberal ideology and unintended consequences run amok!
3 people like this.

Reply 12 - Posted by: wildcat1 5/29/2020 1:36:20 AM (No. 424956)
#11 The corn made into ethanol is a FEED grade corn, not a food grade corn. Of the 90 million acres of corn planted in the US, only about 700,000 acres are food corn. Sweet corn for fresh eating or canning, corn made into meal or tacos etc. If the ethanol market disappears, the US farm economy will collapse. US farmers are efficient and we raise too much of everything. We raise too much corn, too much wheat, too much soybeans, too much beef, pork, chicken....... We either need to eat what we raise, export it, or make ethanol out of it. Losing one third of our corn market will be a long term disaster for farmers. Period.
2 people like this.

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