To view the complete report, click here.
With the recent flooding crisis in the Midwest expected to present problems all the way into July, it will no doubt impact the 2019 planting season and is already having an impact on the grain that farmers store on their farms.
Understanding the specific impact and how it relates to your prospects and customers will be essential as your business moves forward in the coming months.
We performed a geospatial intersection of our land data with a flood map from March 16 – 24 and four states – Iowa, Nebraska, Missouri and Kansas – have seen significant impacts from the flooding. Here are some specifics:
• Nearly 150,000 growers in the 4-state area affected by the flooding
• Nearly 90,000 grain bins located in the flooded areas that account for more than $4 billion estimated grain bin construction cost
• 1.24 billion bushels of storage capacity in the affected area – that’s 30 percent of the on-farm grain storage in the area and an estimated $7.5 billion worth of grain that is potentially damaged
• Over 16 million corn, soybean or wheat acres are located in the affected areas
Here are some specific insights to help you understand the impact of this flooding on the ag market overall.