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Mar. 5, 2013

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Benchmarking to the Elite: Part 1

One of the elite management learning experiences in agriculture is the Executive Program for Agricultural Producers (TEPAP) at Texas A&M University, coordinated with leadership of Danny Kleinfelter. Now in its 24th year, this gathering of agricultural lifelong learners with an array of outstanding presenters who have a vast amount of background and experience is truly the “Super Bowl week” of education and networking in agriculture....More
Mar. 1, 2013

Article

Corn and Soybean Digest

Keep a Perspective When Marketing Corn, Soybeans

Now that corn is trading approximately $1.50 off of its highs established last September, no doubt many people wonder what this market is really worth....More
Feb. 28, 2013

Article

Mobile App Provides Daily Variable Rate Recommendations to Optimize Corn Yield

An agronomy firm whose smartphone application uses GPS soil testing data and National Weather Service rainfall data to estimate corn yield and determine the most limiting factor will launch a new function on the app....More
Feb. 26, 2013

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The Advisor Who Paid Off

The other day our veterinarian, Todd, shared a story with me about a producer who came to him with a pinkeye problem, which was not only aggravating, but costing him a lot of money. He told me this story during a driving sleet storm as we were checking cows for heat as part of our breeding program....More
Feb. 22, 2013

Article

Corn and Soybean Digest

2013 Beans-to-Corn Ratio Only Slightly Above 2012

Despite market volatility that can easily see corn and soybean prices swing 30-60¢ a day, February’s projected 2013 soybean-to-corn price ratio is only slightly higher than for 2012. Gary Schnitkey, University of Illinois economist, says based on futures settlement prices the first half of February, the projected price for corn will be $5.73/bu. The soybean price is pegged at $13.01/bu. That equates to a soybean-to-corn price ratio of 2.27 ($13.01 / $5.73)....More
Feb. 22, 2013

Article

Corn and Soybean Digest

Old-Crop Strength

Old-crop grain prices have tread water for months. Many traders believe that a market that cannot establish a clear uptrend is a market poised for a setback. I don’t agree. Old-crop corn and soybeans prices will hold steady and trade higher in the next few months. I read the same bearish news that you do. Let’s walk through the problems....More
Feb. 22, 2013

Article

Corn and Soybean Digest

Think Different: Rethink Agronomics 2013

As with most farm business decisions, very few escape without some type of tradeoff, be it labor, time or money. Our cover story may challenge your beliefs if you're sold on 30-in. row soybeans, because you lose yield (range from 2.9 to 4.5 bu./acre) compared to 15-in. – according to a three-year, six-state university trial....More
Feb. 22, 2013

Article

Corn and Soybean Digest

Sell More Grain

With new-crop corn and soybean futures markets priced for profit, farmer Rod Pierce takes full advantage of revenue crop insurance. He makes substantial grain sales in addition to guaranteeing income on 75-85% of his production....More
Feb. 22, 2013

Article

Corn and Soybean Digest

Secure Your Landlords | Status Quo Land Leases May Cost You Lost Acres

How secure is your relationship with all your landlords? At a time when aggressive operators are targeting long-term relationships, offering substantial bumps to rental agreements, what would your landlords accept? Do you know how to 'seal the deal' with every landlord?...More
Feb. 22, 2013

Article

Corn and Soybean Digest

Be a Contrarian

Doing things the way they’ve always been done provides comfort and confidence. Today’s environment, however, is sorting out those who refuse to adapt to change....More
Feb. 22, 2013

Article

Corn and Soybean Digest

$7.50 Corn: Good or Bad?

In two years or possibly even in six months, many corn producers will recognize that $7.50 corn may well have been the worst thing that has happened to them in the last 10 years. I’ve said before that I am of very strong opinion that corn prices are in the midst of the biggest bear market in history. I am sure some readers have laughed at such a statement and others have thought I have lost my mind. I am convinced that $7.50 corn is actually going to be one of the worst things that has happened to a Midwest corn farmer in a long time....More
Feb. 19, 2013

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Should You be Selling New-Crop Corn? 10 Steps to Guide You

New-crop corn balance sheet numbers continue to paint a vividly bearish picture and the bulls are getting more and more concerned. Several analysts, banks and traders are throwing their hats in the ring in regard to new crop corn balance sheet estimates. The bottom-line is that even an average crop is going to produce a huge carry, and ultimately weigh on prices. Those not wanting to price any new-crop bushels are essentially betting on another catastrophic growing season....More
Feb. 19, 2013

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Enthusiastic About the Future of Agriculture: Top Ten List: No. 4

Number four on the countdown list of why I am excited about the future of agriculture is the ability to be entrepreneurial and to grow your wealth over the lifecycle of the business....More
Feb. 15, 2013

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Near-term: A Little Bounce to the Upside, No Surprise

From my perspective the pros are desperately trying to skate to where they believe the "puck" is going to be, NOT to where the puck is currently! If you want to compete in today's markets you have to take a similar approach; know the rules and understand how the game is being played! From a producer's perspective I am still not comfortable re-owning any previous sales....More
Feb. 14, 2013

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Corn and Soybean Digest

USDA Reports Say Climate Change Will Affect Agriculture 1

Two USDA reports say U.S. agriculture and forest management will have to adapt to climate change and that some of those efforts are already underway. "It’s well documented that the climate is changing, that we are seeing changes in temperature and in changes in precipitation patterns, and that those changes are having implications for forests and for agriculture," says William Hohenstein, director of climate change program, USDA. "What these reports actually look at in more detail are the changes that we expect in changes in terms of extreme events. Changes in the probability of droughts, and floods and how that also will have implications for our resources."...More
Feb. 13, 2013

Article

Four Steps to Implement Variable Rate Seeding in 2013

Variable rate seeding (VRS) can help maximize overall profits by selecting the best planting rates for each area of the field. VRS plans are most appropriate in fields with greatly varying soil composition or water holding capacity....More
Feb. 12, 2013

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The History of the Great Commodity Super Cycles

I was surprised by the record attendance recently at my annual “Agriculture and Beyond” speaking events sponsored by the Nebraska Bankers Association. These events in Norfolk and Lexington, Neb., had overflow crowds and some bankers, producers and agribusiness people had to stand out the hallways. Welcome to the great commodity super cycle that has brought wealth and prosperity to much of rural America!...More
Feb. 12, 2013

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2013 to Bring Record Income Again

In its long-term projections released this morning, USDA’s Economic Research Service forecast farm income at a record $127.6 billion, up 15% as crop insurance payments add to income record commodity payments. They then see a drop to $96.9 billion in 2014 as corn, wheat and soybean prices fall dramatically and high production costs, up 12% in two years, eat into income....More
Feb. 11, 2013

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Inside Look at South American Crop Production

South America is going to throw up huge numbers, there is no argument or debate, but they also might use a little more. Regardless of the weather from here on out, they are almost certain to produce an additional 30 million metric tons (maybe even more) of soybeans compared to last year. We may also see new record corn production as well. CONAB is thinking 5 mmt more corn than the current USDA estimate and 3 mmt more than last years record corn crop. This may be a little optimistic....More
Feb. 11, 2013

Article

Feb. 8 WASDE Corn and Soybean Consumption Projections

On Feb. 8, the USDA released new projections for marketing year consumption of U.S. corn and soybeans. Prices will now be at least partially influenced by how closely the rate of consumption tracks these projections....More
Feb. 6, 2013

Article

Forests, Trees and Paul Harvey

Unless you've been under a rock, you've likely seen - or at the very least, heard about - the Dodge Ram advertisement heralding farmers during Sunday night's Super Bowl. It featured a powerful and nostalgic reading of the poem, "So God Made a Farmer," as delivered by Paul Harvey to the 1978 FFA Convention....More
Feb. 6, 2013

Article

Corn and Soybean Digest

We Have the Beans the World Wants – Now

The South American soybean crop is still looking big. But drier-than-expected weather has some fearing Argentina’s production could be slowed, a sign that is helping bolster an “awfully strong soybeans market” for U.S. growers, says Dan O’Brien, Kansas State University grain marketing economist....More
Feb. 5, 2013

Article

Corn, Soybean Input Prices Should Hold Steady Overall

Total variable input costs for the 2013 corn and soybean crops are likely to stay about the same as last year, says Alan Miller, a Purdue Extension farm business management specialist. Variable input costs are the costs of production that vary directly with the crop grown, but don't include fixed costs, such as cash rent. While some individual input prices are expected to increase, some will decrease and others will stay about the same. Fluctuations will serve to cancel out one another and to help keep overall variable costs fairly stable compared to last season....More
Feb. 5, 2013

blog

Perspectives from the Road

Sometimes as I travel around the country Willie Nelson’s song “On the Road Again” comes to mind. While driving my Hertz rental car and listening to Sirius radio, I have had a chance to survey the upper Midwest’s agricultural landscape and visit with over 2,000 producers in the past few weeks. Here are some observations that are top of mind....More
Feb. 5, 2013

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2013 Farm Program Signup

In early January, Congress voted to extend the 2008 Farm Bill, which expired on Sept. 30, 2012, for an additional year, with a new expiration date of Sept. 30, 2013. This means that most existing programs in the 2008 Farm Bill will continue for the 2013 growing season. The USDA Farm Service Agency (FSA) recently announced that sign-up for the 2013 farm program will begin on Feb. 19, 2013, at local FSA offices, and run through Aug. 2, 2013....More