Gibson Insurance Group

Planting time is here! Below is a reminder of the initial plant dates.

USDA announced there will be another round of CFAP payments made to farmers. These payments will be made based off number from your first two CFAP applications. https://www.usda.gov//after-identifying-gaps-previous-aid-

Have questions about your 2021 coverage? Contact us today! Deadline to make changes is March 15.Have questions about your 2021 coverage? Contact us today! Deadline to make changes is March 15.

Spring Prices have been established. Corn- $4.58 Soybeans- $11.87 Deadline to make changes for 2021 is March 15th.

How are you managing in these record low temperatures?

Reminder: Wheat acreage reports are due December 15th. Call our office if you need assistance in filling out your paperwork. Thank you!

https://brownfieldagnews.com//dicamba-re-registered-for-f/

This week the cattle futures markets have dropped. Having Livestock Risk Protection for your cattle could protect you from such a drastic drop. Just earlier this month you could have set an average floor price of $1.38 for a 13 week contract on 600+ pound calves. Last month it was nearly an average of $1.46. LRP works to insure you aren’t falling victim to a down turn in the market. It is never too early to look at marketing your spring calves. Call us today to get a policy in place, so you can act when the time is right.

Farmers are busy on the roads this time of year. Watch out, slow down, and be patient!

Take a look at our latest newsletter! Lots of information about changes made to LRP and how the markets are looking. https://gibsoninsurancegroup.com/newsletter-2/

Are current dry conditions effecting your operation? USDA’s Pasture, Rangeland, and Forage program is designed to help producers get through periods like Missouri is currently experiencing. Call us today to learn more.

Wow, what a day! How’s your harvest going? We received this picture from a farmer in Mid-Missouri.

Harvest has seemed to get a slow start in most parts of Missouri. Have you gotten started? https://brownfieldagnews.com//missouri-crop-harvest-behin/

Don’t forget to stop by our booth at Ozark Farmfest! We’d be happy to discuss how we can best serve your operation!

Have you signed up for your CFAP2 payment? Go to your local FSA today! Producers are already receiving 100% of their payments. Don’t delay! https://www.farmers.gov/cfap

2020 Ozark Farmfest is here! Come see us October 2, 3, & 4 at the Ozark Empire Fairgrounds in Springfield. We look forward to seeing our customers and meeting new producers! Our booth is located in the Center E-Plex 498. Come say hi!

Soybeans Soybeans shot through the $10 barrier like we expected to a new contract high of $10.08 during early trading. This is the highest level since 2017. Prices are reacting to the increased Chinese demand for beans and possibility that the USDA will again lower its estimated yield in the coming weeks. Keep an eye on the grain markets as they may be setting themselves up for a V top. Corn Corn open slightly higher continuing to march toward its chart objective of $3.73.... Increased Chinese interest in corn supported this market as well as election year politics with the administration signaling that they will not give the refinery wavers. Beef The Feb live cattle charts look good, trading at $116.25. This market is now trending up with the 4 and 9 both above the 20 day MA. This strength is exciting as cattle will make money at these levels. We have a floor established at 111.84 and are waiting for a place to sell cattle on the board. When we sell on the board we establish profits and pay for our LRP in one trade. Now is not the time to pull the trigger as the trend is out favor. Jan feeders are struggling a little. It looks as though the market will close lower. We were hoping the market could have close the bear gap put at 143, but instead it drifted lower. There is some season weakness in this market but the 4-9-20 MA are all very close to together at this time. We are still in a position where producers should be placing LRP. Pork Germany has AFS cases identified in the hog herds. Several countries have stopped the imports of German pork. This will increase the demand of pork from the USA. Since August the Lean futures market has recovered rapidly by adding around $30 to some contracts. The June contract is now over $80.

Important Livestock Risk Protection Update: RMA has increased subside levels for LRP making this program even more cost effective for producers. If you are interested in learning more about how this program can benefit your operation please call us at 660-433-6300.

Did you catch the USDA crop report on Friday? Overall, production for corn and soybeans are projected to be lower than originally forecast. Read an overview here: https://www.dtnpf.com///usda-releases-september-crop-wasde

Cattle The near term trend is lower. Early in the week we saw strength in the fed cattle markets to recapture at 40% of the losses of the last 2 weeks. Currently, we are still trading below our 20 day moving average, but are currently at $3 above the 100 day. Our operation placed LRP and sold the board about 3 weeks ago to limit downward price risk and to capture profits from a falling market. The recent 40% retracement will give producers the opportunity to play catch up. ...Corn The trend is still up! For the last several days we have been watching the technicals. The market is struggling to go to the next level but this week the bulls may get another boost as a couple different reports are scheduled to be released. Private firms are expecting the USDA to drop the estimated crop in both corn and soybeans. The high winds in Iowa and dry conditions over the corn belt have reduced expected yield. For now, we are on the sidelines and are watching the corn market closely. Soybeans The bean market continues to march higher. For the last 11 days beans have closed higher than the day before. At this moment November beans could be sold on the board for $9.80. This is a much better price than we expected even a month ago. China buying and the reduction in expected yield is fueling this price rally. Brazil is nearly out of beans, so we are the major supplier this time of year. How high can beans go? This is a question we are all pondering. If nationwide yield comes in 50.5 bu per acre rather than the 53.3 in the USDA forecast, then $10 beans is not unrealistic. Watch the USDA report at the end of the week to see how much the estimates have been lowered. The market trend is up! Remember the trend is our friend. We are currently on the sidelines with 100% of 2020 unpriced. This market is very over bought at this time. I think that the time is very near when we should start thinking about pricing a portion of 2020 production, but as long as the price keeps advancing, we will stay to the side. As conditions change, we will be ready to pull the trigger quickly.

Is your operation prepared for the possibility of a drought in 2021? Lack of rainfall can financially impact your farming operation. PRF provides protection to get through those dry periods so producers can avoid having to make tough management decisions caused by dry weather. Contact us at 660-433-6300 to become prepared.

Cattle Last Thursday the cattle markets changed direction. Since then we have seen an erosion of over $3.00 in the fed contracts. On Tuesday, the 4 day moving average dipped below the 200 day moving average signifying a major change in market direction. Many producers recognized this move and are using LRP to establish a price floor to protect against falling prices. It is not too late to protect against further decline in prices. Call our office for more details. Corn De...c 20 corn closed the day @ $3.58.2. This market has rallied 40 cents since August 10. The 4 day moving average is still greater than the 9 and 18 day signaling an uptrend in this market. We are watching this closely as we expect a sharp decline due to stocks on hand and the stocks to use ratio. When the 4 crosses the 9 day average we are going to price some 2020 crop. Cash grain marketers should be watching the basis between here and STL and KC. Lately there have been some very positive basis which have given producers the opportunity to get rid of some old crop. Soybeans Nov 20 SBEAN market was up sharply again yesterday. We are currently at the highest level in this contract since 1/17/20. Again, we are watching this commodity for marketing opportunities. The trend is still up so our operation is staying on the sideline taking advantage of this trend. As news breaks we are poised and ready to make sales in this market.

Application Deadline: Farmers and ranchers can still apply for financial assistance through U.S. Department of Agriculture’s Coronavirus Food Assistance Program...! Many new specialty crops are considered eligible for #CFAP! The deadline to apply has been extended to Sept. 11, 2020. For more information and to apply online, visit farmers.gov/CFAP. #beMORE | #ShowMeStrong

Producers in the area have started to chop silage. If you are considering chopping be sure to call our office first to start your claims process!

Sunday evening crop check! How are things looking for you?

Our office will be closed tomorrow, Friday July 3rd, in honor of 4th of July. If you need us or would like to make an appointment to meet on Friday please call 660-433-6300. Thank you!

We planted the test plot here at the office today! We planted warm season cover crops for forage to measure for growth rate, tonnage, feed quality, and economic viability. The 4 types we planted were German Millet, Japanese Millet, Teff Grass, and Pasja (a hybrid or rape ad turpins).... We will keep you update with progress!

Today, Director of Agriculture Chris Chinn and the Missouri Department of Agriculture issued the following statement related to the recent court decision from t...he Ninth Circuit Court of Appeals in California: The dicamba herbicide brands XtendiMax, Engenia and FeXapan are still registered for sale and use within the state of Missouri and will be treated as such until further guidance is provided by the U.S. Environmental Protection Agency. This interpretation may be updated at any time due to further enforcement guidance from EPA. Our team has worked over the last 36 hours in communication with EPA to request further legal clarification on what the court’s decision means for our state. That communication includes a written inquiry to the EPA’s Office of Pesticide Programs asking if an immediate implementation of the Existing Stocks Policy within their typical Cancellation Order process would allow farmers to use the technology they’ve already invested in. We see this as a reasonable resolution to the current legal uncertainty and the most practical way to legally dispose of the pesticide. To that end, the Department will use enforcement discretion and will not issue enforcement actions for the sale and use of these three products at this time; however, the Department will continue to investigate complaints of off-target movement. Our team acknowledges the precarious position the court’s decision puts farmers, agriculture retailers and academia in. For the last three years, Missouri farmers specifically have dealt with historic drought, flooding, trade uncertainty and now market volatility due to COVID-19. An overnight decision making this tool illegal is not something that should be done mid-growing season. We call on the EPA to work with the United States Department of Agriculture due to their coordinating biotechnology role." For more information, visit https://agriculture.mo.gov/pla/pesticides/dicamba-facts.php #beMORE | #empowerMORE