THE 4TH OF JULY BY THE NUMBERS.

Americans love food, and eating is their favorite way to celebrate our nation’s Independence Day, according to an annual survey conducted by the National Retail Federation (NRF). The most popular way to celebrate the Fourth of July is to cook out, barbecue, or host a picnic. The NRF says 65.5% of Americans will do just that in 2017 and will spend $7.1 billion on food items for the holiday.

Americans will eat 150 million hot dogs on July 4th alone, according to the National Hot Dog and Sausage Council (NHDSC). Interestingly enough, 61% of Americans prefer beef hot dogs, 12% like pork hot dogs, and 7% prefer turkey, the NHDSC says.

According to an informal poll that we conducted on Twitter, 52% of our followers will be grilling beef over the holiday, 10% will be grilling up pork, 5% will grill chicken, and 33% will throw a combination of the three on the grill to celebrate.

To give you an idea of just how much meat is grilled between Memorial Day and Labor Day, in 2016 Americans grilled $6,816 billion worth of beef, $4,284 billion worth of pork, and $3,882 billion worth of chicken during that period.

Traveling Americans

This year, a whopping 44.2 million Americans will travel 50 miles or more to celebrate Independence Day. According to AAA, that’s 1.25 million more people than last year and the most people ever to travel over the holiday.

Most, 37.5 million to be exact, of the traveling Americans will drive to their destinations, and farmers can only hope they’ll be filling up their tanks with ethanol-enhanced fuel.

Fun Facts for the BBQ

In 2016, the amount of American flags imported to the U.S. were valued at $5.4 million and most came from China, according to the U.S. Census Bureau. The U.S. also exported enough American flags in 2016 to add up to a value of $27.8 million. Most of the flags, $26.1 million worth, were exported to Mexico.

Last year, the U.S. imported $296.2 million worth of fireworks from China.
Back in 2012, the 172 U.S. wholesalers sold $482.6 million worth of fireworks and firecrackers.
A particularly happy Independence Day to those celebrating in patriotic towns and counties like Liberty County, Texas; Patriot Town, Indiana; and Union County, Ohio! BY ANNA MCCONNELL.

WILL JULY CROP WEATHER CONTINUE TO BE A HEAD- SCRATCHER.

As weather goes, so likely will prices.

This year’s weather has either been close to ideal or it has made for a stressful spring and start to summer. A very challenging spring (due to copious rains in parts of the Midwest) forced many farmers to replant corn and in some instances abandon acreage or switch to other crops. “Rain makes grain” is the old saying, and as July 4 approaches, it’s hard to complain if you’re lucky enough to have had a few rain events. For many, however, rain this year is something they could do without, at least for a while. If you planted early and your crop looks good, rain is welcome, in particular the western corn-producing states. For about a third of all corn producers, too much rain this year has created many challenges. Late planting and poor field conditions for spraying crops are two concerns, as more rains this past week suggest nitrogen leaching and shallow roots, both which could suggest lower yield.

The most recent crop ratings figures released by the USDA this past Monday indicated this year’s corn crop is rated as 67% good to excellent, down from last year’s 75%. With lower acreage (4 million less than last year) as indicated on the March 31 Acreage report and a higher amount of corn rated in the poor to very poor category compared with a year ago, it’s been a head-scratcher why corn prices lately have been on the defensive, losing more than 25¢. The “rain makes grain” mentality, along with increased farmer selling of old crop, are the likely two variables pressuring prices. As the end of the month approaches and cash contracts come due, farmers are determining whether to move inventory or roll contracts to another month. A limited amount of time to empty bins between now and harvest has created an environment where producers are likely deciding to get rid of old crop.

Despite recent downward price pressure, it’s too early in the growing season to be overly pessimistic on price. The chances that corn prices will move substantially lower, with what could be a less-than-ideal crop, are probably not good. End users will likely view the recent pulldown in corn prices as an opportunity to lock in longer-term needs. As weather goes, so likely will prices, and lately weather has not been ideal. The chances of price recovery are good. The critical months for crop growth and maturity are July and August. Attitude, as well as perceptions in the marketplace, could change in a hurry over the next 60 days.

If you have questions or comments, contact Top Farmer at 1-800-TOPFARM, ext. 129.
Futures trading is not for everyone. The risk of loss in trading is substantial. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Past performance is not necessarily indicative of future results. BY BRYAN DOHERTY.