Also – a very happy birthday to my mom today –who is one of the best dairy farmer, nurse, mom, and grandma combos in the whole world.
Pandemic disruptions turned into to expansion challenges in 2021 and no one was left unaffected by the market dynamics.
While crop forecasts in the Southern Hemisphere look robust as harvest continues, weather conditions for winter wheat crops in the North remain uncertain and are likely to create much price volatility in the early days of 2022.
It’s highly possible I spoke too soon a couple weeks ago when I said that input prices were stabilizing across the Midwest as seasonal demand waned.
During that period natural gas, the key raw ingredient and fuel required for nitrogen fertilizer production, spiked up 9% as cold winter weather forecasts drove up demand – and price – for the winter heating fuel.
Growers who locked in prices last fall can breathe a sigh of relief as 2021 ends, knowing that they’ve made smart hedges for their business to ensure profitability.
But one thing is certain – everyone should be making sure that in this climate of higher prices that they are taking advantage of the revenue opportunities offered by the markets.
This last day of 2021 will also be the last day of unseasonably warm temperatures, according to NOAA’s short-range forecasts.
Snowfall will travel over the Northern and Central Plains today, shifting into the upper Midwest by tomorrow.
Much of the dryness continues to be concentrated in the West and across the Plains.
The dryness in the Midwest is not yet as severe as that in the High Plains and West.