FNC News

Here in the Midwest, we are blessed with experiencing seasons of each year. When spring arrives, it brings renewed hope and optimism for new life, regardless of the circumstances that we may be facing. 

Spring has arrived at Farmers National Company! Our local farm managers throughout the Corn Belt are busy monitoring their managed fields as planting is in full swing. Planting progress is ahead of “normal” thanks to drier and warmer weather than most springs. The southern states have naturally progressed further in their planting progress, but the central Corn Belt states are off to a great start. The northern states are not behind much to date. Illinois, Indiana and Ohio are the states lagging in progress, but they have received the most spring moisture.

As of May 5th, corn planting progress across the US is 40% complete, compared to 35% last year and 39% for the five-year average. Nationwide soybean progress is similar, with 30% completed compared to 24% last year and 23% for the five-year average.

Despite the swift planting pace, two underlying concerns cloud the spring's optimism: commodity prices and the potential for drought this year. Much of Texas, Oklahoma, Kansas, Nebraska, and South Dakota are dealing with growing drought conditions, and even Iowa is trending towards drought. Commodity prices have been range-bound at lower levels for the past several months, but farmers will be looking for opportunities this spring to market their remaining 2024 crop and begin to forward price their expected 2025 production. 

Even with these challenges, we are optimistic that 2025 will be a profitable year for our clients. With the hybrids we plant today and the good farming practices we utilize, timely rain events during the growing season can moderate the dry conditions and allow for a good year! The same goes for commodity prices; any worldwide geopolitical event or weather event can change the landscape of the commodity prices in a hurry and give opportunities to price the commodities at profitable levels. 

If you are interested in learning more about how Farmers National Company can help manage your farm, please reach out to one of our experienced farm managers who can answer your questions.