Snow & Rain This Week Could Stall Harvest

Agriculture

I’m Clinton Griffiths with today’s AgDay Minute.

Corn and soybean futures, continuing to make gains this week. The December corn futures contract now at its highest level since August of last year and soybeans continuing to inch towards the 11-dollar mark. But the weather could bring about big changes, with harvest possibly coming to an abrupt end, at least for a while in portions of the country as heavy snowfall makes its way into the Northern Rockies and the Dakotas. Some places could see up to 12-inches of snow by the time this system passes through. Others will see rain. This storm system is also ushering in colder conditions across much of the country.

Despite the pandemic, one agriculture creditor is taking a more optimistic view about farm finances moving forward. Farmer Mac, releasing its quarterly perspective. Saying many farmers will not see their incomes decline this year, thanks largely due to government support. It says people eating more food at home instead of eating out right now may also be helping out. A report shows for every dollar spent on food at home 11-cents is allocated to farm production, but for food away-from-home, that figure is only 2-cents.

Speaking of eating at home, Amazon is expanding one-hour grocery pickup to all of its Whole Foods locations in the U.S. That’s nearly 500 stores. It’s free for Prime Members on orders of 35-dollars or more.

For more ag news watch AgDay, weekdays on this station. Or anytime at agweb.com and on social media.

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