September 25th, 2020
Week of September 25, 2020
This week brought ideal harvest conditions to keep combines rolling. Like last week, I'll keep this newsletter brief as there is plenty to keep everyone busy. In this newsletter we'll discuss next week's weather conditions, national and state harvest progression, and details of the CFAP2 Program.
The extended forecast shows below average temperatures and slightly below average precipitation.
Looking ahead from today, there is a 50% chance of rain on Sunday morning. This is the best chance of rain we have had for 2 weeks. This system will be worth monitoring to see if it will cause a break in harvesting for our area.
The maps below show the harvest progression of corn and soybeans throughout the country according to the USDA's Crop Progress Report. Iowa reported 4% of corn harvested and 7% of soybeans harvested for the start of the week.
The USDA has allocated money to the Coronavirus Food Assistance Program 2. The program is meant to mitigate the effects of the current market conditions for producers. The CFAP 2 is based off of a producers Actual Production History, APH, or the Agriculture Rick Coverage-County Option, ARC-CO for producers without a APH. Payments are calculated differently for corn and soybeans.
Corn payments are calculated by taking a producer's APH or ARC-CO x 0.40 (nationwide corn marketing percentage average) x $0.58/bu. This calculation is on a per acre basis so the last step is to multiply that number by the number of corn acres.
Soybean payments are calculated very similarly. Payments are calculated by taking a producer's APH or ARC-CO x 0.54 (nationwide soybean marketing percentage average) x $0.58/bu. Same as with corn this is a per acre calculation. The last step is to take that number multiplied by the number of soybean acres.
Applications for this program are being accepted until December 11th.
2021 Seed Financing Program
With 2021 right around the corner it is time to consider options for your 2021 seed inputs. Herbers Seed has partnered with JD Financial to provide you with a unique financing opportunity for your 2021 seed inputs. Details can be found below. Lou and I will also be able to answer any questions you may have about the program.