It may have been a late start to planting season, but Ontario farmers are happy with the progress of their crops so far this year.
But the price of those crops is another matter.
Huron County farmer Mike Colcloug, who planted his corn May 6, is pretty ecstatic with his crop now.
“I wouldn't have dreamed we'd be this good at this point after getting such a late start."
Peter Heinrich's soybean crop is also doing well, although he'd take a bit more sun and a little less rain right now.
“It should be 28 to 29 degrees this time of year and we're down in the low 20's. Crops are already 10 days behind schedule so we could use some more heat units to catch up, but all told, I'm pretty happy so far."
Now if only markets were a little higher. They have not been kind to producers since the beginning of July.
“Commodity prices have dropped dramatically in the past 15 days. We're seeing prices lower than the bottom we saw in 2010,” says John Lanthier, of Market Smart Inc.
Expected record soybean production in the U.S. and near record corn means it's a buyer’s market. Corn prices have dropped to less than half of what they were just two years ago.
“The crop isn't off yet, so an early frost or some other surprise weather event could make prices go higher. Right now, the percentile of that happening is quite low,” Lanthier says.
Farmers have learned to take the price roller coaster in stride, knowing that some years you're just growing to break even and have pride in a good crop.
“We've been there before. Crops not in the bin, so a lot can happen yet,” Heinrich says.
