With such a wet spring, vegetable farmers in many regions, including here in upstate NY, are having difficulty getting crops in the ground and, once there, protecting them from root rot, mold, and other issues. The plants might have been started in greenhouses and await being transplanted once the soil dries, which can mean much larger plants that aren’t as resilient as seedlings when it comes to the transplanting process. In other words, the corn around here may not likely be “knee high by the Fourth of July”. It might mean potential delays in getting shipments of vegetables to food pantries, which may impact feeding programs. It might possibly mean fewer varieties on store shelves, higher prices, and the need to bring vegetables in from other regions that might add logistical burdens. Many vegetable farmers who do not grow “commodity” crops like wheat or soybeans do not receive relief funding, which might impact the agricultural economy in certain regions. This overabundance of water might have a trickle down impact that may hit our own dinner tables, not to mention those of restaurants from fast food to fine dining, condiment manufacturers, and more. This is, of course, speculation, but it does show how one thing - in this case, the weather -may potentially have a significant impact.
What are some of the things that are impacting your life and, subsequently, your wealth? Are you tending your financial “garden”? Are you seeking to protect it from risks? Speaking with a financial advisor may help you to uncover some of the issues with your “soil” to help you toward “harvesting your crop”.
This information is provided for general educational purposes only and not as specific advice for any individual.
Seek professional advice before taking any action in regard to your finances.
Todd A. Slingerland, CFP®