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

Untreated soybean seed Heartland Coop
Seed/BiotechMarrone Bio Innovations, Groundwork BioAg Bio-stacked Microbial Seed Treatments Result In Increased Yields
February 13, 2017
Marrone Bio Innovations, Inc. and Groundwork BioAg, Ltd have announced successful seed treatment field trials of the world’s first all-biological Read More
Seed/BiotechNufarm Introduces New Seed Treatment Solutions
February 3, 2017
Nufarm Americas, Inc. has announced the addition of new, innovative and proven seed treatment solutions to its product portfolio. Promoting Read More
Seed/BiotechAgrisure Viptera Trait Demonstrates Effective Control Of Above-Ground Insects
February 1, 2017
Across the Corn Belt this past season, hybrids containing the Agrisure Viptera trait demonstrated effective control of above-ground insects in Read More
Syngenta plant
Seed/BiotechSyngenta AI Challenge To Address World Hunger With Machine Learning
January 31, 2017
Syngenta and the AI for Good Foundation have partnered to launch the Syngenta AI Challenge, a new international competition focused Read More
Trending Articles
Farmer and aptop
Matt Hopkins10 Warning Signs Your Website Is Grossly Outdated
February 8, 2017
Your Website is often a visitor’s first impression of your ag retail business. A positive first impression can set the Read More
AgriSync
Matt Hopkins17 Agriculture Apps That Will Help You Farm Smarter In 2017
December 9, 2016
Ag professionals are working smarter, not harder, than ever before. Smart farming technologies have enabled them to reduce costs, maximize Read More
R4023 Sprayer, John Deere
CropLife 100Ag Retail Equipment Report: The Green Party Continues
December 7, 2016
In the annual race for sales in the ag retail equipment marketplace, the color schemes for participants are a little Read More
Mike Stern
Precision AgClimate Corp. CEO Talks Retailer Support For Digital Ag
December 1, 2016
CropLife Magazine’s sister publication, AgriBusiness Global, recently sat down with Mike Stern, CEO of The Climate Corp., following the Monsanto subsidiary’s Read More
Precision AgTrimble Debuts End-to-End FMIS Platform
November 28, 2016
October’s inaugural PrecisionAg Vision Conference left this author with many thoughts and things to ponder in the coming months. Probably Read More
CHS Primeland
CropLife 100The 2016 CropLife 100 Report: Reviewing The Many Bulls And Bears Impacting This Year’s Marketplace
November 28, 2016
For virtually all of 2016, the nation was wholly focused on the big Presidential election. Some folks aligned themselves with Read More
Latest News
Soybean Plant closeup
HerbicidesRegional Listening Sessions Give Farmers A Voice In The…
February 27, 2017
Both scientists and regulators have had a lot to say about the growing problem of herbicide resistance and how weed Read More
Greystone Construction built the tension membrane fertilizer storage building (left) and steel seed treater building (right)
CropLife 100Pinnacle Announces Successful Exchange Offer Results An…
February 27, 2017
Pinnacle Agriculture Holdings, LLC has announced today the early tender results of its previously announced offer to exchange (the “Exchange Read More
IEI Barge Fertilizer Potash Port Terminal
EquipmentLegacy Building Solutions Receives Design-Build Merit A…
February 27, 2017
When IEI Barge Services needed a building capable of storing and loading fertilizer, they turned to Legacy Building Solutions to Read More
ManagementSouth Africa Update and the New New Leader G5
February 24, 2017
Editors Eric Sfiligoj and Dan Jacobs discuss the recent visit to South Africa by sister magazine AgriBusiness Global and the Read More
Fall Creek Watershed
StewardshipUpdate: Nutrient Stewardship In Indiana Requires Cool, …
February 24, 2017
Update: The application deadline for NCRS funding has been extended to March 17, 2017. Green leaves sparkle in the sunlight. Trees Read More
Greenleaf Technologies TADF03-D Dual Fan Nozzle
NozzlesSix Greenleaf Nozzles Approved For XtendiMax With Vapor…
February 22, 2017
Greenleaf Technologies has announced that six of its TurboDrop D Series nozzles have been approved for use with Monsanto’s XtendiMax Read More
Winter Wheat
Industry NewsTiger-Sul Hires Manitoba And Eastern Canada Account Man…
February 22, 2017
Tiger-Sul, a global leader in sulphur fertilizers and crop performance products, has announced that sales veteran Trevor Loewen has joined Read More
NFMS 17 Hagie Sprayer
Eric SfiligojThe Read From Louisville: Uncertain
February 22, 2017
By the time this column appears across the country, the annual Commodity Classic will be in full swing. This means Read More
SprayersApache 1000 Series Sprayer Earns 2017 EquipmentWatch Hi…
February 21, 2017
ET Works has been named a winner in the 2017 EquipmentWatch Highest Retained Value Awards program, the industry’s only award Read More
Measuring Bulk Tanks
StewardshipMeister Media Among 2017 Award Winners Presented By The…
February 21, 2017
The Pesticide Stewardship Alliance (TPSA) held its annual conference in San Diego, CA, earlier this month where three awards were Read More
John Reifsteck
CropLife 100GROWMARK’s Reifsteck Earns NCFC Director Of The Y…
February 21, 2017
GROWMARK Chairman of the Board and President John Reifsteck has earned the prestigious Director of the Year Award from the Read More
Roy Blunt
LegislationARA Recognizes Blunt, Heitkamp For Legislative Efforts …
February 17, 2017
Agricultural industry continues to face federal regulatory challenges. Thankfully, agriculture’s allies in the U.S. Senate stepped forward. The Agricultural Retailers Read More
LegislationThe Fertilizer Institute Commends Senate On Confirmatio…
February 17, 2017
The Fertilizer Institute (TFI) President Chris Jahn issued the following statement on the Senate confirmation of Oklahoma Attorney General Scott Read More
Trump, Senate, Cabinet
LegislationBREAKING: Trump EPA Nominee Scott Pruitt Confirmed by S…
February 17, 2017
Scott Pruitt, who as Oklahoma’s attorney general spent years suing the Environmental Protection Agency over its efforts to regulate various Read More
ManagementFebruary Road Trip Edition
February 17, 2017
Editors Paul Schrimpf and Eric Sfiligoj discuss their recent visits to Indiana and Kentucky. Read More
Heritage Cooperative Finished Building Aerial
ManagementHeritage Cooperative, Agland Co-op Approve Merger
February 17, 2017
Agland Co-op and Heritage Cooperative stockholders have both approved the merger agreement between Agland Co-op and Heritage Cooperative. Now begins Read More
LegislationARA Fly-In: Ag Retail Descends on Capitol Hill, Lawmake…
February 15, 2017
More than 100 agricultural retailers, distributors and suppliers headed to Capitol Hill Tuesday morning for the Agribusiness Congressional Fly-in, according to a Read More
Untreated soybean seed Heartland Coop
Seed/BiotechMarrone Bio Innovations, Groundwork BioAg Bio-stacked M…
February 13, 2017
Marrone Bio Innovations, Inc. and Groundwork BioAg, Ltd have announced successful seed treatment field trials of the world’s first all-biological Read More