Pharos-Tribune

Business

August 18, 2013

USDA forecasts bumper crop, Cass farmers watching weather

USDA forecasts bumper crop; corn farmers watching summer heat

(Continued)

He's also hoping good weather holds out until after the corn is reaped, "that we don't turn around and have issues with frost."

Economists figure after the harvest, corn prices are likely to dip, yielding lower farm incomes. However, while the bumper crop in Indiana and other parts of the eastern Midwest should offset some of the deficit in the drought-plagued Great Plains, Plank guessed many farmers, like himself, would put some of their crop in storage to sell at a later date.

"I feel the prices will dip this fall but they'll come back up next fall," he said. "A lot of guys are hanging onto it. ... The problem is the input prices were still fairly substantially high, and the prices you get out of the field this fall, they're not going to hardly cover your costs."

Wilson agreed, saying additional on-farm storage added within the last two to three years at the Wilson farm would allow him and his brothers to store corn as long as they needed to.

"We can either market it before the first of the year, or after the first of the year, or next July if we need to," he said.

Sarah Einselen is news editor at the Pharos-Tribune. She can be reached at sarah.einselen@pharostribune.com or 574-732-5151.

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