Volume 8, Issue 27                                                                  September 22, 2000

 

Next week will be the last issue of Weekly Crop Update for the 2000 season.  

 


Field Crops

 

Field Crop Diseases - Bob Mulrooney, Extension Plant Pathologist; bobmul@udel.edu

 

Soybeans.

 

 

If you see soybean plants with these symptoms, contact your county agent: New Castle 302-831-2506, Kent 302-697-4000, Sussex 302-856-7303.

 


 

Grain Marketing Highlights - Carl German, Extension Crops Marketing Specialist; clgerman@udel.edu

 

Basis Opportunities Available for Early Harvested Grain

Farmers are reporting good basis bids for early harvested corn and soybeans on the shore.  The bids vary between dealers and by location.  However, there are some opportunities to forward price corn and soybeans for immediate harvest delivery at basis levels that are much better that basis bids for later sale.  Basis levels of 10 to 20 under Nov. for early harvested beans (that must be delivered by October 15th) and bids for corn that are even to10 over Dec. have been reported.  For soybeans, the basis offering for this time of year is in line with historical offerings.  The early harvest basis offering for corn is about 10 cents per bushel weaker that normal, yet it is likely to be much better that basis levels being offered for later harvest and delivery.  Logistically, besides trying to affect the best sales plan, grain marketers on the Eastern Shore must also be concerned about finding a home for this year’s crop.  In some cases that will mean having to settle for a less desirable harvest delivery price and taking the field direct LDP.

 

Grain marketers are going to want to store corn and soybeans later in the harvest period when basis levels weaken.  Those without storage will be forced to take the cash sale and then can consider re-ownership with the purchase of call options and/or futures.  The best time to effect this strategy, if needed, will be when grain prices and options premiums for at the money strike prices are at their lowest.  The ‘window of opportunity’ to employ this strategy may well occur between now and mid-October.  A Chicago commodity trader’s observation is worth noting “due to the fact that the U.S. crop has developed ahead of normal, the September USDA crop production estimate is likely to be more accurate that usual”.  This portends to the idea that any reduction in the production estimates for corn or soybeans in the October report is likely to be minimal.  Speaking of windows of opportunity to profit from something, the window of opportunity for soybean storage to pay is likely to occur from harvest to the end of March, about the time the Southern Hemisphere crop harvest begins.  For technical assistance on grain marketing decisions contact: Carl German at 302-831-1317 or clgerman@udel.edu

 


 

Upcoming Events…

 

REMINDER…

 

Hay and Pasture Workshop: Basic Considerations for Establishing and Maintaining a Grass Hay Field or PastureCarl Davis, Extension Agricultural Agent, University of Delaware, cpdavis@udel.edu

 

Date: Saturday, September 23, 2000

Time: 10:00 a.m. – 12:00 noon.

Location: University of Delaware Farm, Rt. 896, Newark, DE

Registration: Phone 302-831-2506 by Wednesday, September 20 if you plan to attend. This will help us plan for handouts, etc.

 

This meeting is free and everyone interested in attending is welcome.  For more information or for special consideration in accessing this meeting, please contact Carl Davis at 302-831-2506 or cpdavis@udel.edu

 


 

                                   Weather Summary

Week of September 14 to September 19

Rainfall:

1.30 inches : September 15

0.35 inches : September 19

Readings taken for the previous 24 hours at 8 a.m.

Air Temperature:

Highs Ranged from 82°F on September 14 to 69° F on September 16.

Lows Ranged from 62°F on September 19 to 46° F on September 17.

Soil Temperature:

70°F average for the week.

(Soil temperature taken at a 2 inch depth, under sod)

 

Web Address for the U of D Research & Education Center:

http://www.rec.udel.edu

 

 


Compiled and Edited By:

Tracy Wootten

Extension Associate - Vegetable Crops


Cooperative Extension Education in Agriculture and Home Economics, University of Delaware, Delaware State University and the United States Department of Agriculture cooperating, John C. Nye, Dean and Director.  Distributed in furtherance of the Acts of Congress of May 8 and June 30, 1914.  It is the policy of the Delaware Cooperative Extension System that no person shall be subjected to discrimination on the grounds of race, sex, disability, age or national origin.


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