Leave this field empty if you’re human: Previous articleNielsen: Skepticism Over USDA Corn Yield Numbers…Until NowNext articleSkepticism Over USDA Corn Yield Numbers Waning and the New Harvest Forecast on the HAT Friday Morning Edition Andy Eubank Facebook Twitter SHARE Home Indiana Agriculture News Cold Adds Dry Down Complications to Hoosier Harvest By Andy Eubank – Oct 31, 2019 SHARE Facebook Twitter Cold-making-it-harder-for-crop-to-dryFarmers needing to get back to harvest operations will not get much of an assist from the new HAT Harvest Forecast. It has been very wet this week and there are a few drier days coming, but chief meteorologist Ryan Martin says the dry conditions won’t last long enough.“We don’t have enough time for drying in between our upcoming weather events, so we’re definitely cold here to finish out the week and go through the weekend,” Martin said. “Temperatures are well below normal and we saw snow on Halloween for the first time in a while. Last time that happened was 2014. But we are not going to see drying happening at an exceptionally fast pace just because of the cold air that’s in for Friday, Saturday and Sunday. We will see temperatures moderate a little on Monday, but that’s going to be ahead of our next front.”He says the next ten days in Indiana bring the complications of three different weather systems.“The first one comes Tuesday, giving us from .2 to .8 of an inch across 80 percent of Indiana, and there is maybe a 12 hour break between that one and the next one that shows up on Thursday, continuing into Friday that gives us ¾ to two inches of rain combined over the region. That’s much wetter than what we had been seeing earlier in the week. And once we get to the 11th into the 12th we’ve got rain coming back, a half to and inch and a quarter, 100 percent of Indiana getting coverage.”It is now November and Martin says the colder temperatures are becoming a real problem for crop dry down.“In between the systems that come through we do shut the moisture off quite cleanly and we get good sunshine in between as well,” he explained. “But you have to look at temperatures. We are now moving into a time of year where our temperature averages continue to go down. That colder air cannot hold as much moisture as warm air, so that means we cannot dry the crop as fast.”Combine the bigger rains and cooler temperatures, and farmers are looking at a lot of waiting on harvest operations all the way through to the middle of the month.The harvest forecast is made possible by First Farmers Bank and Trust, proud to support Indiana farmers, by Kokomo grain, and by Seed Genetics Direct, a family-owned company meeting the corn, wheat, soybean, alfalfa and herbicide needs of Corn Belt farmers. Value. Knowledge. Performance. It’s in their genetics.Get Martin’s full harvest weather forecast in your inbox by signing up to receive the HAT e-newsletter below.Subscribe to our free daily newsletter Cold Adds Dry Down Complications to Hoosier Harvest
Low interest rates will only be a problem for pension funds for the short term, Mario Draghi, the president of the European Central Bank (ECB), has suggested.Addressing the Dutch Parliament on Wednesday about the ECB’s monetary policy, Draghi emphasised that the ultra-low interest rates policy was crucial for economic recovery, which will also benefit pension funds for the long term.The Netherlands’ predominantly capital-funded and defined benefit pensions system, with approximately €1.2trn of assets, has been particularly hit by low interest rates, with politicians and pension funds voicing strong opposition to the policy.The ECB’s deposit rate has not been above 1% since 2009. Recently, experts estimated the damage to Dutch pensions at €60bn: a €100bn rise in liabilities caused by the low rates was only partially offset by a €40bn rise in asset values, they calculated.While acknowledging the negative impact of low interest rates on pension funds that guarantee benefits, Draghi said that low rates were necessary for recovery and employment.“We need to offset short-term negative effects against the positive effects for the long term,” he said.According to the ECB president, with an economic recovery, interest rates and returns would also improve and liabilities would decrease.Draghi did not address questions about legal proposals from 50Plus, the Dutch political party for the elderly, to introduce a minimum discount rate for liabilities of 2%.“The ECB has not been tasked with setting the supervisory rules for pension funds,” he said.Dutch pension funds must use a discount rate based on the market rate, with the application of an ultimate forward rate of currently 2.8%.The official discount rate, as prescribed by supervisor De Nederlandsche Bank, stands at approximately 1.68% at the moment.