Thursday, April 26, 2012

May Home, Yard, and Garden Calendar

HOME (Indoor plants and activities)

Many indoor plants can be moved to shady locations outdoors but only after danger of frost is past. Plants will dry out more often outdoors, so keep a close eye on soil moisture. Sinking the pots in soil will help slow down moisture loss.

YARD (Lawns, woody ornamentals and fruits)

Prune early spring-flowering trees and shrubs after flowers fade.

Plant balled-and-burlapped or container nursery stock, and water thoroughly.

GARDEN (Vegetables, small fruits and flowers)

Plant frost-tender plants after danger of frost is past for your area. This includes warm-season vegetables, such as tomatoes, peppers, eggplant and vine crops, as well as most annual flowers and tender perennials, such as cannas, gladiolus, dahlias, tuberous begonias and caladiums.

Pinch chrysanthemums and annual flower plants to keep them compact and well branched. <Read More>

Crop Outlook is Favorable, but Mother Nature Rules

Chris Hurt, Purdue Extension Agricultural Economics Specialist

Mother Nature always gets the last word when it comes to determining crop yields across Indiana. Last year she was unkind as a wet spring caused planting delays and then heat and dryness in mid-summer caused yield losses. Yields for both corn and soybeans were nearly 10 percent below normal.

Farmers are anxious for the new growing season in 2012 and the weather is giving them an early start. A warm and relatively dry winter means the planting season has started early increasing prospects for a return to favorable yields. 

While crop production was down in 2011, prices were at record highs. This meant that revenues for Indiana's major crops of corn, soybeans, and wheat reached a record high level of about $8.3 billion. 

A return to more normal crop production in 2012 could also bring lower prices, especially for corn. Increased production at lower prices means that total revenues would not change very much from the $8.3 billion from the 2011 crop.

However, what will change this year are higher production costs. Purdue University estimates suggest that costs of producing these crops will increase by 15 to 20 percent in 2012 compared to last year. Higher costs are led by fertilizer, fuel, and cash rents. These elevated costs mean the net returns or profits from Indiana cropland are expected to drop from the record levels achieved in the past two years. 

While a decline in returns is never welcomed, the decline is coming from record high levels. This means that crop incomes are expected to decline in 2012, but will still be strong relative to average incomes over the past decade. 

While prospects are favorable this spring, Mother Nature and market prices will ultimately determine the financial success of Indiana's 2012 crops.

Weekly Outlook - Expectations for the 2012-13 Corn Marketing Year

December 2012 corn futures reached a high of $6.735 on August, 31, 2011, declined to a low of $5.23 on March 30, 2012, and are currently trading near $5.40. The steady decline in prices over the past few months reflects, in part, expectations for a large 2012 U.S. corn crop and some re-building of inventories during the year ahead.

Prospects for a large increase in corn acreage support expectations for more abundant stocks next year, but opinions about the magnitude of the build-up vary considerably. Since the end of the 2012-13 marketing year is 16 months away, uncertainty will abound for several more months. <Read More>