The final rule was issued on Jan. 23. It is slated to be printed in the Federal Register any day. Once that happens, there is a 60-day period before it is official — sometime around May 1 — then there will likely be legal challenges filed in court.
For farmers, all of this has probably been more of a distraction than an immediate problem for their farm operations. Iowa State University Extension ag economist Chad Hart says the issuance of a new final rule won’t directly impact farmers this spring.
“There won’t be much change right now,” Hart says. “But it does change the trajectory.”
Hart was also quoted in the March 9 story in Indiana Prairie Farmer, "Get Planter Ready, but Focus on Marketing Too."
Chad Hart, an Extension ag economist and marketing specialist with Iowa State University, recently noted that history bears out that the highest prices for corn and soybeans during the calendar year often occur in the spring months — typically April, May and June. He realizes other factors can create blips in prices, so this strategy may not work every year.
However, he observes that over time, during these months, when most farmers focus on getting the new crop planted, market prices tend to be higher than at other times during the year. His message is simple: Focus as much on marketing opportunities during the spring planting season as you do on getting the planter ready to go.