#Replant2017: 3 Questions To Ask Before You Replant
As the weather continues to be unpredictable this growing season, growers across the nation are discovering washouts and missed rows across the Midwest. The Corn Belt is expected to see record amounts of replants this year, reports Progressive Farmer. Some say that the record number of replants stems from the weather this spring, while others look towards the actions of this winter to justify the replant of 2017. Nonetheless, farmers will look to start replanting within the near future.
With the replant on the horizon, many farmers are continuing to count their pennies as margins continue to be razor thin. With a focus on profitability, check out my tips to a successful replant in 2017.
1) What are your options?
Consider all your options when replanting this season. Is it worth to replant a section of the field that may not be profitable? Consider using past year’s information on fields to determine profitably of parts of a field. Can you wait and replant that field with another crop? Soybeans? Wheat? There may be another option that you can use that can make you more money than replanting corn.
2) Consider what it does for your crop insurance.
What changes do you need to make to your policy? Will this push your premium up or down? Your crop insurance will be changing with a replant in the ground. It is important to not only consider the time it will take to adjust your policy, but the impact it will have on your return on investment. With premiums increasing and the price of corn remaining at lows, it may not be advantageous for one to replant corn. Let’s do some simple math: the price of corn fluctuates; however, let’s imagine it’s at $3.00 per bushel. With a production cost of BOTH plants at roughly $2.50/bushel, and a premium of over $0.50, you are losing money on this field.
3) What’s your progress look like now?
Have you got your beans in the ground yet? Are you still working on corn’s first pass of herbicide? As a farmer, your to-do list is a mile a long, but the weather that was presented this spring seems to make the to-do list a little longer. Knowing that there is only 24 hours in a day, farmers can not get everything done. When looking at a replant decision for this year, look at the priorities. Instead of basing those priorities on what should be done, look at what can improve the bottom line of your farm. One may realize that a replant will not be worth the money in the long run.
These three questions will help you evaluate #Replant2017 and make sure your acres are being managed like a successful business.