By: Chris Bruynis, Extension Educator and Barry Ward, Leader Production Business Management
With continued wet soil conditions throughout Ohio, farmers are evaluating whether to plant corn, switch to soybeans, or opt for preventative planting crop insurance payments. OSU Extension has developed the decision aid, “Estimated Yield and Profit by Planting Date – Corn, Soybeans or Preventative Planting Crop Insurance” which is a downloadable Excel spreadsheet. It allows farmers to enter their own production information to determine which choice might be best for their operation. Many factors enter into this critical decision. Actual planting date and potential yield loss associated with later planting, relative yield potential of corn and soybeans of the farm, relative prices of corn and soybeans, market basis differences due to a later harvested crop, potential savings of crop inputs due to a later planting date, potentially higher costs of grain drying, and crop insurance APH yield and coverage level are some of the major factors impacting a producers decision. This decision aid allows users to enter their own assumptions about maximum yield potential, harvest market prices, input costs, and crop insurance coverage levels. Click here to download Decision Aid.
The “Estimated Yield and Profit by Planting Date – Corn, Soybeans or Preventative Planting Crop Insurance” decision aid was created using historical yield data for Ohio to determine potential corn and soybean yields for late planted crops. Since the data in this decision aid is historical and yield losses with current technology and productions methods may not be as limiting, the profit estimates are conservative. Unforeseen weather conditions during the remainder of the growing season may cause a different outcome from these initial estimates. Examples include the 2009 growing season when favorable weather conditions allowed for better than predicted crop yields after a late planting season while the 2002 growing season with adverse growing conditions after a late planting season caused poor yield over much of Ohio. The model also provides a chart on typical grain moistures at later planting dates allowing the user to adjust the drying charges.
The “Estimated Yield and Profit by Planting Date – Corn, Soybeans or Preventative Planting Crop Insurance” OSU Extension Decision Aid can be downloaded from the Ohio Ag Manager (OAM) homepage at http://ohioagmanager.osu.edu. This model was patterned after the decision aid created by Ryan Batts, Emerson Nafziger, and Gary Schnitkey at the University of Illinois located at: http://www.farmdoc.illinois.edu/fasttools/index.asp.