Record rain fell across the continental U.S this year, and the critical delay in planting is wreaking havoc across the agriculture industry
By Jacob Bunge July 30, 2019 5:30 am ET WOOD COUNTY, OHIO—American farmers are reeling after unrelenting rain delayed planting across the Midwest while trade battles continue to drag down exports and crop prices. Now, the prospect of another lean year is spreading farmers’ pain to the agricultural suppliers, traders and food makers that depend on them.
Repeated rainstorms and flooding are also pressuring agriculture-industry giants, as farmers return crop seeds to companies like Bayer AG and Corteva Inc., ethanol giants cut production of the corn-based fuel additive, and grain companies such as Cargill Inc. and Archer Daniels Midland Co. are forced to boost offers to secure grain ahead of a lean harvest. U.S.
At a kitchen table spread with bills, farming catalogs and a quilting magazine, Mr. Herringshaw prepared to fill out insurance paperwork for his unplanted fields while more rain drenched the weedy, brown field across the road. In Findlay, Ohio, Legacy Farmers Cooperative Chief Executive Mark Sunderman in late May sat down to tally lost revenue from fuel sales, crop-spraying services, and less grain likely sold to Legacy’s facilities this fall. Legacy’s overall sales are likely to drop by 50% from 2018, he said.
Next door, Frobose Market IGA owner Bob Frobose said shoppers worried the poor crop would drive up prices for the supermarket’s namesake bratwursts and other products. While Mr. Frobose is bracing for his livestock feed costs to jump by 25% this year, he said raising prices risked sending shoppers to chain stores in nearby towns.
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