June 5 is the final planting date for corn in most of Illinois, Indiana, and Ohio. After that date, farmers can decide to plant corn or take a prevented planting payment for fields or partial fields they intended to plant to corn.
The date of planting will impact expected returns from corn planting. Herein we show figures that illustrate the impacts of planting date on expected returns from planting corn by date after June 5.
Overall, the returns from corn planting decline with later planting, causing taking the prevent plant payment to look more attractive. In general, cash prices must increase from current levels before planting corn results in the highest return in most situations analyzed.
If all costs of production need to be incurred, cash corn prices need to exceed $4.50 on June 6 if the RP has an 85% coverage level. This break-even price goes over $5.00 per bushel by the second week of the late planting period.
The full farmdoc article can be found here.