May 2022 Lower Midwest & Central Plains Region Market Briefing
Introducing Diana DeHart - Market Advisor Regional Representative covering the Lower Midwest & Central Plains
I've been working as a Farm Market Advisor with FBN since 2018 and I've been employed in the grain industry since 1994. I grew up on a grain and livestock farm in NW Missouri, and still farm and raise cattle in the area with my family. I started my career in the grain industry with a Co-op in western Indiana as a grain merchandiser.
For 3 years I worked for ADM as a merchandiser, commodity broker and grain facility manager in west central Indiana. In 2005, I moved back to Missouri and worked for a regional co-op in west central Missouri as the grain coordinator. In 2016, I moved back to northwest Missouri to my family farm and worked for a newly constructed shuttle loading facility nearby. In May of 2018 I joined FBN and I have enjoyed the opportunity to work with producers and help them manage their grain marketing risk.
The western part of this region has been extremely dry while the north and eastern areas have been fighting rain. Planting in the Lower Midwest areas has been delayed, but mid-May weather gave many producers several short windows that allowed them to get corn in the ground. The Deep South has seen a fair amount of prevent plant claims for corn.
The Wheat Council wrapped up their Kansas tour with an estimated yield of 39.7 bushels per acre versus the average from last year at 47.4 bushels. Production is seen at 261 million bushels, implying USDA’s harvested area total is viewed as too optimistic by the tour. We believe protein shouldn't be an issue for the HRW crop this year.
Old crop basis is holding firm for soybeans and corn in most areas. New crop soybean basis remains steady to slightly weaker. If you'd like to talk about your farm business and how it's being impacted by market dynamics, you can call/text me at 816-281-5496. Or email me.
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