Prevent Planting Implications for 2017
Excessive rainfall in early to mid-April delayed corn plantings, and then unfavorable growing conditions led to a larger than average percentage of the corn and soybean crops in poor to very poor conditions. These adverse growing conditions are likely to have a negative impact on crop yields in some areas. For example, USDA’s weather-adjusted trend yield model reveals that for each percentage of the U.S. corn crop planted after mid-May yields drop by 0.289 bushels per acre. The yield response is not linear, however. At some point it is no longer timely to plant the crop. Part of the planting decision will reflect the combination of lower commodity prices and potential yield declines driven by late planting. At least a few farmers may well decide to let things go this year…….