The corn crop insurance date looms as wet weather continues to stall planting

June 5 is the last corn plant date for Ohio producers to have full coverage on their crop insurance in place for 2019. After June 5, producers will lose 1% of coverage each day for corn planted after this date. The late plant period for corn will end on June 25. Much talk has already taken place in recent days as prevent plant options are thoroughly reviewed to see the best option for this year. Early May saw market talk of corn acres switched to soybeans. U.S. prevent plant corn acres could set a record this year. Why? Producers are extremely reluctant to switch those corn acres to soybeans with November CBOT soybeans mid-May falling below $8.50, which translates into fall delivery soybeans below $8 at the vast majority of Ohio grain facilities. The thinking is Why would I plant soybeans only to lose more money if weather is not a threatening factor this summer?