Late Planting Could Cost Ohio Over $980 Million

Barry Ward, production business management leader with Ohio State University Extension, said he has roughly figured that lower yields due to late planting could cost corn growers $720 million and soybean growers $260 million in gross income at the farm gate. The estimates are based on the acres of each crop that farmers said in March they expected to plant, and on the lower yields expected because of the late planting.

However, the estimates are just ballpark figures based on certain assumptions made at “a snapshot in time,” he said. He expects the losses to grow. Although a recent break in Ohio’s rainfall has allowed many Ohio farmers to get in their fields, planting is still far behind average, and the economic impact “continues to grow daily,” said Ward, who is also an assistant professor in Ohio State’s Department of Agricultural, Environmental, and Development Economics (AEDE).

Furthermore, the analysis incorporates estimates just for corn and soybeans, not other parts of agriculture.

“It’s a very incomplete picture,” Ward said. “There are certainly other losses being experienced in the agricultural sector, including substantial losses in fruit and vegetable production, and in the greenhouse and bedding plant industry. Quantity and quality losses in winter wheat might be expected due to disease. And, pasture and hay are also suffering losses in both quantity and quality. Poorer feed means less feed efficiency, and that will translate into losses in livestock, as well.”

In addition, the estimate does not include multiplier effects in the economy.

“Less income means that farmers have fewer dollars to spend on inputs and capital expenses, such as equipment and buildings,” Ward said. “But it also means less disposable income to make purchases that would have helped spur the local economy — they might hold off on buying a car or making other purchases.”

Fortunately, Ohio farmers in general have had four consecutive good years leading up to 2011.

“There have been pockets of Ohio that didn’t fare as well with the weather and their crops over the last three or four years,” Ward said, “but overall, most crop farmers in Ohio have been able to strengthen their financial positions in recent years, so this year might not be a death blow for them.”

The true economic impact of the late planting season won’t be known until fall, Ward said.

“The weather from now until harvest will determine the impact on yield and on income,” Ward said. Other factors that could change the outlook include how many farmers decide to take prevented planting crop insurance, and how many corn growers switch to soybeans. But this initial estimate “is a very conservative number,” Ward said. “This planting delay will definitely have an impact.”

(Source: Ohio Ag Connection)
 

Leave a Reply

Seed/Biotech Stories
Seed/BiotechSyngenta Delivers Two New Winter Wheat Varieties To Eastern Corn Belt
August 6, 2014
Adding to its portfolio of AgriPro brand wheat varieties, Syngenta introduces SY 007 and SY 474 soft red winter wheat varieties. Read More
Seed/BiotechWater Optimized Seed Flowing Freely
April 1, 2014
As the demand for ag to diminish its water use while maintaining high yields and crop quality increases, three companies are leading the movement to grow more with less water. Read More
Seed/BiotechBayer Applies For Seed Treatment That Protects Against Sudden Death Syndrome
February 26, 2014
If approved, ILeVO seed treatment would be the first product to provide breakthrough protection for soybean seedlings from the soil borne pathogen Fusarium virguliforme, the fungus that causes SDS. Read More
Seed/BiotechSeed Still Central
November 1, 2013
Advancing genetics continue to make seed the crop variable that calls the shots for the season. Read More
Top 100 Articles
CropLife 100The Andersons Acquires South Dakota Plant Nutrient Manufacturer Kay-Flo
May 20, 2015
The Andersons, Inc., ranked No. 22 on the CropLife 100, has purchased Kay Flo Industries of North Sioux City, SD. “This Read More
CropLife 100North Central Farmers Elevator, Wheat Growers Unification Approved By Board, Still Awaits Member Approval
May 13, 2015
The Boards of Directors for North Central Farmers Elevator (NCFE) and Wheat Growers (WG) have voted to approve the Unification Read More
CropLife 100AgGateway’s Barcoding Initiative Progressing Nicely
May 8, 2015
According to legend (or Wikipedia), the first step towards modern bar codes came back in 1948, when Bernard Silver, a Read More
CropLife 100Pinnacle Agriculture Acquires Minnesota Retailer
April 14, 2015
Pinnacle Agriculture Holdings, LLC, ranked No. 6 on the CropLife 100,  has successfully acquired Liebl Ag, LLC in Ada, MN.  Read More
CropLife 100CHS, Aurora Cooperative Complete Fertilizer Storage, Grain Shuttle Loading Facility
April 13, 2015
CHS Inc., the nation’s leading cooperative and ranked No. 5 on the CropLife 100, and Aurora Cooperative (ranked No. 21) Read More
CropLife 100GROWMARK Acquires Missouri Refined Fuels Terminal
April 2, 2015
Bloomington, IL-based GROWMARK and Magellan Pipeline Co. have entered into an agreement in which GROWMARK will acquire the refined fuels Read More
Latest News
ManagementA New Sprayer Company & UAV Research In The Spotlig…
May 21, 2015
CropLife’s Paul Schrimpf and Eric Sfiligoj talk about a Dutch sprayer manufacturer entering the U.S. with a super-sized entry and Read More
HerbicidesFirst U.S. Sale Of Enlist Duo Herbicide Made By Dow Agr…
May 21, 2015
Dow AgroSciences has recorded the first U.S. sale of Enlist Duo herbicide with Colex-D Technology. This marks the first commercial Read More
CropLife 100The Andersons Acquires South Dakota Plant Nutrient Manu…
May 20, 2015
The Andersons, Inc., ranked No. 22 on the CropLife 100, has purchased Kay Flo Industries of North Sioux City, SD. “This Read More
EquipmentNORAC Options Coming To TerraGator
May 19, 2015
Utilizing NORAC’s Standard Control technology, boom height control is now available for TerraGators with Airmax Precision 2 and Benson Booms. This Read More
Crop InputsHelena Introduces New Soil Health Product
May 19, 2015
Helena Chemical Co. is helping agricultural producers maximize yields and efficiency with the introduction of Liquid Chisel, a new product Read More
Stewardship4R Nutrient Management Planning Certification Now Avail…
May 19, 2015
The American Society of Agronomy (ASA) and the International Certified Crop Adviser (ICCA) program announce a new specialty certification in Read More
Environmental Defense Fund logo
Paul SchrimpfEnvironmental Defense Fund: Appreciating Partners
May 19, 2015
I WAS deep in the throes of preparation for the Commodity Classic meeting that took place this past February, trying Read More
WebinarsUpcoming Webinars
May 19, 2015
Register for one of our upcoming Webinars or access our archive of past Webinars to view recordings of presentations that may be of interest to you. Read More
Syngenta Sign
Seed/BiotechSyngenta Responds To Lawyer’s Victory Claim In Vi…
May 18, 2015
A plaintiff’s lawyer has issued a public statement claiming that damages have been awarded in the Agrisure Viptera corn lawsuits Read More
StewardshipCould Australian Water Trading Approach Fit In Californ…
May 18, 2015
Ten years of drought isn’t a good thing. It doesn’t help the bottom line of farmers or the health of Read More
SpreadersDutch Sprayer Manufacturer To Enter U.S. Market
May 18, 2015
Dutch self-propelled sprayer manufacturer Agrifac Machinery has announced intentions to enter the U.S. market with two models of sprayers available Read More
FertilizerTFI Weighs In On Fertilizer Rail Transport Bill
May 14, 2015
With today’s House Committee on Transportation and Infrastructure as a backdrop, The Fertilizer Institute (TFI) registered its support for policies Read More
ManagementA Visit To The 2015 Environmental Respect Spirit Award …
May 14, 2015
CropLife’s Paul Schrimpf and Eric Sfiligoj talk about a recent visit to the CPS Spirit winner in St. Stephen’s Church, Read More
StewardshipBayer Entomologist Issues Statement On Annual Honeybee …
May 13, 2015
Richard (Dick) Rogers, Principal Scientist / Entomologist, Bayer Bee Care Center for Bayer CropScience LP, today issued the following statement Read More
Crop InputsKansas State Researchers Announce Resistant Kochia Brea…
May 13, 2015
Kansas State University researchers say new research helps explain why an invasive weed is developing resistance to a well-known herbicide, Read More
RR2X soybeans surround untreated check (center)
HerbicidesUSDA Study: Glyphosate Application More Prevalent In So…
May 13, 2015
Glyphosate—known by many trade names, including Roundup—has been the most widely used pesticide in the United States since 2001. It Read More
AdjuvantsHelena Chemical Introduces New Drift Control Adjuvant J…
May 13, 2015
Helena Chemical Co. introduces Justified, an innovative drift control agent designed to improve the performance and precision of spray applications Read More
CropLife 100North Central Farmers Elevator, Wheat Growers Unificati…
May 13, 2015
The Boards of Directors for North Central Farmers Elevator (NCFE) and Wheat Growers (WG) have voted to approve the Unification Read More