Navigating the corn maize of input costs, marketing plans and resources is challenging. Start with hybrid selection, encourages Dr. Jeff Coulter, University of Minnesota Extension corn agronomist. Find hybrid trial data from many sources that are tested in conditions like yours. Focus on the top 20% of performers. If performance is consistent, it’s likely those hybrids will perform well next year, too.
Plant the corn when soil conditions are favorable. The minimum soil temperature for early corn planting is in the mid-40s F and trending stable or upward. If trending downward, wait.
Focus on corn planting on or after April 20. Yields are highest when corn is planted during the last week of April and first week of May. After May 10, the yield penalty for delayed planting starts increasing.
Dr. Coulter studied two corn seeding rates at two locations over the last three years in southern MN: 34,000 and 38,000 seeds per acre. “Not once have I seen an advantage to the higher seeding rate in continuous corn,” he states. Consequently, growers could potentially cut seeding rates to 34,000 and save on seed costs.
Do not compromise on weed control. Continue to use a preemergence herbicide followed by a postemergence application to control weeds and reduce weed seed contributions to the seed bank.
Follow University of Minnesota fertilizer guidelines for nitrogen, phosphorus and potassium to reduce costs while maintaining yields. Pay attention to nitrogen (N) application timing and methods to reduce losses. Remember that unless you’re on sandy soils or other high loss situations, split applications of N don’t consistently pay. Purchase fertilizer based on cost per pound and not on claims of better uptake or increased efficiency. The exception is for some N fertilizers, like ESN, that may be beneficial in high N loss risk situations.
To cut costs without hurting yield, apply fungicides and insecticides only after scouting and reaching economic thresholds (ETs) for pests. Applying pesticides below ETs increases the risk of developing pesticide resistance.
How might a trade war impact prices? Ed Usset, grain marketing economist, shared historical data from the mid-May trade war in 2018. From early May to mid-July, corn and soybean cash prices fell 20% and wheat fell 15%. “This is not a prediction for today, but rather a reminder of how trade can impact prices when it’s done wrong,” he reinforces.
The U.S. has been a major grain exporter for years. Corn and by-products add $5 billion in export value to the Minnesota economy.
Corn is also a a value-added component of exported meat products. Since 1974, pork, chicken and beef exports have grown from less than 2% to 25%, 16% and 11%, respectively.
Should unpriced corn be held or sold? Over two months, cash prices rose in a post-harvest rally. According to Usset, April, May and June (AMJ) prices are generally higher than the January high 80% of the time. For years with a post-harvest rally since 2000, all AMJ prices rose higher than the January high.
The new crop futures prices have also rallied. While these aren’t predictive, the odds are favorable for higher cash crop and new crop AMJ prices.
The basis has softened in corn and soybean, due to the rally in futures prices. Usset expects the selling to slow down and the corn basis to firm up during the May-June period.
Adam Birr, Executive Director of Minnesota Corn, described Minnesota Corn as the umbrella for two organizations: Minnesota Corn Growers Association (MCGA) and the Minnesota Corn Research and Promotion Council (MCR&PC). While two separate, independent organizations, they work together closely.
MCGA is the 2nd largest corn membership organization in the country. Every now and then, they take the top spot away from Iowa. MCR&PC handles the check-off. Approximately 28% - over $2M - goes toward research focused on crop productivity and new uses, and those results help inform policy development. By adding value to the Minnesota’s corn, producers enjoy expanded marketing opportunities.
MCR&PC has three major goals: 1) discover new uses of corn, 2) discover best practices that maximize sustainable production, and 3) increase corn profitability. Their projects tackle topics from nutrient and pest management to soil health and water quality. Other projects focus on sustainable plastics, fuels and grain quality.
MCR&PC’s investment in University of Minnesota’s Center for Sustainable Polymers has resulted in several successful start-up companies that have spun off. The global demand for green technologies is allowing these new technologies to become more competitive with petroleum-based products.
MCR&PC has also invested in ethanol since 2008. Sales of E15 are hitting new records in local sales and exports and hundreds of stations now sell UNL88, providing value at higher octane levels.
For more information from University of Minnesota Extension, visit extension.umn.edu/ crop-production.
Thanks to the Soybean Research and Promotion Council and the Corn Research and Promotion Council for their generous support of this program.
For more news from U of M Extension, visit https://www.extension. umn.edu/news or contact Extension Communications at extdigest@umn.edu. University of Minnesota Extension is an equal opportunity educator and employer.
