From a technical standpoint the market also looks as if it may be in jeopardy of building a more bearish formation. If political unrest is resolved in Brazil and the soybeans start moving more aggressively to the ports and if Chinese demand stays strong, old-crop prices could be subject to 50¢ or more of almost immediate downside pressure....More
A recent Reuters news article titled “Rent walkouts point to strains in U.S. farm economy,” claims that some farmers have abandoned farmland-rental commitments. "It might be better to let it go and cut your acres back, cause if you lose $100 per acre on a farm have to make up that loss from other farms,” says Kent Thiesse, vice president of MinnStar Bank, Lake Crystal, Minn....More
If you want to test products or management ideas on your farm but don’t have the time or expertise for your own comparisons, help could be as close as your seed corn dealer. They can likely do most of the heavy lifting in setting up the trials and analyzing the results of testing nitrogen rates, plant populations, herbicides, fungicides seed varieties and more....More
The USDA National Agricultural Statistics Service (NASS) released the 2014 estimated average county yields for corn, soybeans and other crops in late February. These yields will offer a pretty good estimate of where final Ag Risk Coverage-County (ARC-CO) farm program payments are likely to end up for the 2014 crop year....More
Trucks destined to haul Brazil’s soybean crop remained idle last week, as haulers continued to strike against high government diesel prices. The result was a double-digit rally in U.S. soybean futures prices and the potential for more foreign buyers of U.S. beans, notes Bob Burgdorfer, senior editor of Farm Futures....More
In the 5 ag stories to read this week, get some considerations for seed treatments when trying to cut costs this spring. If you plant cover crops, be aware of residual herbicides, and there's still time to sign up for the Conservation Stewardship Program. Read 5 tillage myths, and watch a video thanking farmers, that also helps FFA.
Secretary of Agriculture Tom Vilsack spoke to farmers this week at Commodity Classic. He thanked them for their hard work, extended the deadline for base acre and yield changes, asked for their help in passing the Trans-Pacific Partnership trade promotion and addressed GMOs....More
CSD Xpert and University of Minnesota professor Ed Usset says there's a 70% chance producers will see the post harvest price levels of November soybeans and December corn come this spring. "I would challenge producers to make sure you're ready to get something done," said Usset at Commodity Classic after his early riser session on the first day....More
Profit margins for crop production this year are the tightest that they have been for several years, which makes 2015 crop insurance decisions extremely important. Many farm operators are looking for ways to reduce their crop operating expenses for 2015; however, cutting back on crop insurance coverage may not be a wise decision....More
Although USDA projects that plantings will decline among the three commodities, recent reports actually suggest that many U.S. farmers may be preparing to switch more acres from corn into soybeans due to the lower costs of production. Such a scenario would lead to increases in soybean plantings for 2015....More
In the 5 ag stories to read this week, get tips for monitoring stored corn and soybeans. Read the latest Farms and Land in Farms report from USDA, showing a decline in farms and farm acres. Take a look at options for crop insurance this year, and read about healthy soil improving yield. Finally, read a farmers point of view on what farmers know when it comes to growing food.
Are you going to Commodity Classic this year? Have you downloaded the mobile app to your phone yet? Make sure you do so you can use some of the great features, including maps, the whole schedule, a to-do list and tweeting....More
There are certain characteristics of borrowers who will struggle at the end of the agricultural commodity super cycle. This includes farmers who won cash-rent lotteries during the upswing, as well as farmers who have high equity but marginal profits. Young ag professionals and rural America will also feel the pinch of the commodity downturn....More
Profit margins for crop production this year are the tightest that they have been for several years, which makes the 2015 crop insurance decisions even more critical. Producers have several crop insurance policy options to choose from, including yield protection (YP) policies and revenue protection (RP and RPE) policies, as well as several other group insurance policy options....More
In the 5 ag stories to read this week, get tips for preventing and managing soybean diseases this year. Watch videos from University of Illinois about profitability in agriculture and keep an eye out for a USDA survey. Read how one farmer's success with strip-till has led to more agronomic benefits, and check out a Facebook page dedicated to the love of farming.
The National Farm Machinery Show turned 50 years old this year, and it continues to attract more than 300,000 farmers from across the nation and beyond. I spent some time at the show during the first two days, dodging and weaving in the crowded aisles over 27 acres of exhibits. Here is my first installment of items I found interesting.
As I pointed out weeks ago, politics and logistics can often be more of an uncertainty in South America than actual production. As long as the world needs or is relying on South America for supplies, the trade could remain nervous....More
The March Agricultural Survey conducted by the USDA’s National Agricultural Statistics Service (NASS) will survey approximately 82,000 of the nation’s farmers to determine their plans for the upcoming growing season....More
The deadline to finalize decisions on base acre reallocation and updating payment yields at local Farm Service Agency (FSA) offices is Feb 27. The deadline for producers to complete the farm program choice on each farm unit, and potentially on each eligible crop, is March 31....More
In the 5 ag stories to read this week, learn how farmers are becoming more compliant when planting a refuge for Bt corn, and make your farm bill choices in seven steps. Read new research that says climate change is impeding soybean yields, and see what's new for herbicides this year. Finally, enjoy a smile from some cows.
Anybody can market $8 corn but it takes a great marketing plan to market $4 corn. Know your strengths and weaknesses; consistency is key to your corn and soybean marketing plan. Make a strong commitment to executing your marketing plan....More
Dean Glenney set out to replicate the undisturbed fencerow soils he recalled plowing up in his youth. Along the way, he began producing record-breaking yields under low inputs, giving him returns considerably greater than neighboring conventional systems....More