Why Having Risk Management Strategies In Place Is So Important

Market Commentary for 7/19/24

This week I drove I-35 from Minneapolis, Minn., to Des Moines, Iowa, then took I-80 west to Lincoln, Neb., and then highway 77 to Beatrice, Neb. South of Clear Lake, Iowa, crops look like the best I have seen in July for the past 10 years. From Minneapolis to the state line, there were clear signs of extremely wet weather, but it wasn’t as bad as expected. About 50% of the crop in that area looked good and I didn’t see many prevent plant acres.

In conversations this week with client producers spread throughout the U.S., 90% are expecting average or above average yields this year. Areas of concern include south-central and southwest Minnesota where there has been excessive precipitation. There are also a few farmers scattered throughout the Plains that have experienced some hail and minor wind damage too.

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