What is in this article?:
Uncertainties abound for corn and soybean production in 2013. Potential drought, crop insurance payouts, and commodity prices are just a few major unknowns. To help growers prepare for the next year, Farm Industry News put together a buyer’s forecast of interest rates and the costs of production inputs and land. Featured here is the 2013 forecast for seed.
The rest of the input forecasts may be found here:
Tight seed supplies
“Our seed production fields experience the same type of environmental pressures and stresses that our grower customers experienced,” says Hank King, Mycogen Seeds, corn marketing. “Prolonged higher temperatures and low rainfall significantly impacted the summer seed crop in some areas.”
Concerns over seed supply aren’t anything new. During Monsanto’s fourth quarter earnings report, Brett Begemann, Monsanto President and CCO, said: “It is obvious that our business planning is happening against a backdrop of this year’s devastating drought. On the positive side, as farmers turn toward next year, seed is a priority. As I think about seed availability, 2013 is set up to be remarkably similar to 2012. Last year, storms and heat stretched our seed production. This year, it was drought.”