|
|
|
The news firstBy Holly Martin It seems that we always want to know the news before everybody else. In fact, that's why media even exists--to get the news to consumers in a timely and accurate fashion. Do you remember a time when people actually waited until the next day's newspaper to hear the news? A time when people weren't getting updates on their computer, cell phone and pager all at once? Those days are long gone. And news junkies everywhere rejoice. That's the idea behind this week's National Agricultural Statistics Service crop report. We can't wait until the crops are already harvested. We must know what the future holds for America's farmers--now. The report, released June 30, tells us that corn acreage will be the second highest since 1946, at 87.3 million acres. Soybean farmers have planted 74.5 million acres, the third largest on record and up 17 percent from 2007. We knew farmers would respond to high prices, and they did. The advantage of planting and acreage reports is that it does allow for a definitive source to tell us what is accurately going on. But, part of the trouble with forecasting is that factors can change, affecting the outcome. Case in point is the extensive and severe Midwest flooding. When NASS surveyed those producers, their fields weren't under water. To try to gain an accurate picture, NASS did follow-up calls with producers to assess the extent of the damage. While it will still be some time before farmers in the Midwest are able to decide for sure what they will do, NASS estimates that the floods will take 2 percent of the total acres expected for harvest prior to the damage. Pessimists say crop reports, crop tours and the like do nothing but drive prices down. But the fact remains, we aren't in the "old days" anymore. To compete on a world market, we must be able to assess our situation and respond accordingly. It allows producers to protect their prices and make the most of the commodity market. Let's just hope there aren't any more "news" items like flooding, drought or disease that keep producers from harvesting their expectations. Holly Martin can be reached by phone at 1-800-452-7171 ext. 1806 or e-mail at hmartin@hpj.com. 7/7/08 Date: 7/1/08
Copyright/Privacy
Copyright 1995-2009. High Plains Publishers, Inc. All rights reserved. Any republishing of these pages, including electronic reproduction of the editorial archives or classified advertising, is strictly prohibited. If you have questions or comments you can reach us at High Plains Journal 1500 E. Wyatt Earp Blvd., P.O. Box 760, Dodge City, KS 67801 or call 1-800-452-7171. Email: webmaster@hpj.com |
Market Snapshot
|
