As expected, the USDA Crop Production Report released on Jan. 12 indicates that both the total U.S. corn production and soybean production for 2014 were at record levels. The final 2014 national average yields per acre for both corn and soybeans were also at record levels. Following are some highlights of the recent USDA Crop Production Report, as well as the latest USDA Supply and Demand (WADSE) Report....More
Let’s examine five-steps for returning to positive margins in your agriculture business, in no particular order. Some of these steps can be used to build efficiency in profitable businesses as well....More
In this week's 5 ag stories to read, you'll find tips for managing soybean aphid in 2015. There is also a breakdown of the ARC farm bill program when choosing the individual or county option. Read about the biodiesel market, and hear about genetic engineering benefits. Finally, enjoy a list of signs that you grew up on a farm.
Recent value adjustments in the land market still leave land values at historically high levels in the longer term view. Price softening is happening, but at different rates depending on the region, prices for major commodities in that region, and quality of the land. Profitability from record crop incomes supported by insurance coverage, has kept farm operations in the black and producers interested in adding land.
Short-dated new crop options (SDNC), available since mid-2012 from the CME Group, Chicago, Ill., provide a short-term alternative for trading new-crop corn and soybeans as well as hard red winter wheat and soft red winter wheat. CME reports that more than 2.5 million SDNC contracts have been used....More
Soybean prices broke significantly lower on the heels of less than bullish USDA data. We saw a slight bounce Tuesday. Keep in mind however, we've still yet to break outside the $1.00 trading range of between $9.80 and $10.80....More
The reality is setting in that some producers, particularly those in the grain sector, will experience negative margins in 2015, which is something not experienced in many years. How can a producer troubleshoot their business and work with their lender when margins are tight, or even negative?...More
In 2015, crop revenues are likely to be significantly reduced compared to revenue levels in recent years. 2015 crop input costs for seed, fertilizer, and chemicals are likely to be similar to 2014 levels, and land rental rates will likely remain fairly high, which adds more risk to 2015 crop production....More
The Jan. 12 Grain Stocks report from USDA estimated corn stocks up 7% and soybean stocks up 17% from the December 2013 report. Bushels stored on farm are also up over a year ago, for both corn and soybeans....More
Five ag stories to read this week includes management tips for soybean cyst nematode. Read about a family using solar and wind energy to power their farm, and use a tool to help with crop insurance decisions. Xpert Ed Usset offers a marketing plan for the coming months, and singer James Wesley thanks farmers.
Moral of the story, don't overthink this market and do not get overly convicted to your preconceived ideas or thoughts. This is simply about reducing your risk and turning a profit. The easier you can accomplish this goal the better your going to be....More
The U.S. Department of Agriculture (USDA) has begun its celebration of the International Year of Soils to highlight the importance of healthy soils for food security, ecosystem functions and resilient farms and ranches....More
One of the key components for farm operators to understand as they evaluate the new farm program options is the concept of Market Year Average (MYA) price. The MYA price for a given crop year is used to calculate any potential payments for all three farm program options: Price Loss Coverage (PLC), Ag Risk Coverage-County (ARC-CO), and Ag Risk Coverage-Individual (ARC-IC). The historical MYA prices are also used to determine the benchmark revenues for both the ARC-CO and ARC-IC program options....More
Soybean futures ended 2014 on a whimper, down close to 20¢ per bushel across the board. The market didn’t act much better the first the first day of 2015, with the January contract closing at $10.02. November slid below $10, closing at $9.93....More
The five agriculture stories to read this week include farm revenue outlook for 2015, as well as long-term agricultural projections. Read about a farmer who is building soil organic carbon to grow better crops, and a company that's got a robot to do your nitrogen sidedressing. Finally, for some entertainment, take a fresh breath of farm air with the Peterson Farm Bros.
We've posted a lot of great stories and photos on the web this year! These are our most-viewed pieces and cover a variety of topics from helpful aerial images to GMOs, making a profit with lower corn and soybean prices to no-till yield secrets, and more! Check out our best from the web for 2014, and stick around for more great stories and photos in 2015.
Corn and soybean prices are higher today than they were in early October. However, despite an impressive “dead cat” bounce, prices remain below production costs. Marketing plans are difficult to write when prices are below costs, but write one we must. Here are my pre-harvest marketing plans for 2015....More
As a producer, I continue to hold out for slightly higher corn prices before pulling the trigger on additional sales. From a spec perspective, I prefer being a longer-term buyer on a deeper break. And I am sticking with the thought that higher soybean prices might be in our near-term future....More
2015 is setting up to be another interesting year in the agriculture industry, following a fairly profitable year in 2014 for many livestock producers, but a far less profitable year for most crop producers in the upper Midwest. 2015 will bring farm program sign up, as well as continued uncertainty about renewable fuels. There are also crop production costs to consider, and the hope that land values continue to moderate....More
The five agriculture stories to read this week offer options for residual herbicides in soybeans, as well as tips for updating your crop yields with the Farm Service Agency under the new farm bill. Read a fertilizer outlook from Rabobank, and hear from Xpert Dan Frieberg about ag data ownership and knowledge. Finally, a happy holidays greeting from the CSD staff.
This is the second of a two-part article highlighting what happened agriculturally in 2014. Last week’s article provided a review of 2014 crop production and weather conditions. This week we will focus on some highlights regarding input costs, grain prices and the overall farm economy for 2014....More
John Motter, Jenera, Ohio, pays himself $100 per hour from the premiums he earns for growing high-oleic soybeans. Not bad, says the four-year veteran of growing Pioneer Plenish and Asgrow Vistive Gold soybeans. Motter asked to be a high-oleic soybean grower when food trans-fat labeling first appeared, converting all of his soybean acres to high-oleic varieties after two years....More
Five agriculture stories to read this week offer 2015 crop budgets and insight into falling gas prices. Read about lower land values, and see what's on Xpert Ed Usset's corn and soybean marketing wish list this Christmas. For some fun, check out amazing RC tractors at work.
Can soybean seeding rates be used as part of an integrated herbicide resistance management program? That's the question in a study published in Weed Science. Researchers conducted studies in 2012 and 2013 to determine the most effective seeding rates when used with or without pre-emergence herbicides....More
2014 will be remembered as the second crop year in a row with weather extremes and highly variable crop conditions in many areas of Minnesota and Iowa. A mid-September frost across a wide area of south-central Minnesota and north-central Iowa resulted in an early end to a growing season, which already featured later than normal maturing crops. The end result was some very disappointing corn and soybean yields in many areas of Minnesota and northern Iowa....More