In the protein business, feed ingredients are over 50% of our cost. No two years in farming are alike or free of drama. Much can change between now and the harvest, The key is bringing order to chaos and having a long-term strategy.
This year there has been a dramatic reduction in carryover. The dry spell has spanned the wheat fields of the Great Plains and the Corn Belt in the Upper Midwest, leaving areas with fractions of their normal rainfall as they head into crucial growing periods for corn and soybeans. La Niña is on the way out and El Niño is on the way in, an advisory was issued, with a 56% chance for a strong El Niño to develop this coming winter. **