Explanations for fans of soybeans and hummingbirds

Today’s question: In the newspaper there are reports giving the current price of various farm crops such as corn and soybeans. Two prices are quoted. One is “New Crop,” and the other is “Near By.” I cannot find anyone who can explain what is “Near By” or “New Crop.”

We print corn and soybean prices? Who knew? I guess I don’t get around to that part of the paper all that often. I need to start paying more attention.

Anyway, I don’t have the faintest idea what you’re talking about, but fortunately for both of us the University of Nebraska’s Institute of Agriculture and Natural Resources Farm and Ranch Management Office does.

Since I don’t understand it well enough to paraphrase, here is exactly what it says:

“A new crop contract price index will illustrate the price pattern of a single futures market contract, establishing potential target dates to pre-harvest market grain. The nearby contract price index will look at the futures contract closest to expiration, identifying favorable dates for post-harvest marketing.” That, I hope, settles that. I was sitting on my patio one recent afternoon when I noticed two of my hummingbird feeders — glass tubeshaped feeders, about two inches in diameter — were empty. I thought I’d refill them in the morning, but when I went out the nectar level had risen about an inch and a half overnight. Any idea what would cause this? They’re in the shade during the day.

Sure. Your feeders acted as mini-barometers. A change in the air pressure overnight pushed what fluid was left in the tubes upwards.