WASHINGTON — It’s not the record most farmers want to set. The rising cost of fuel and other products drove U.S. farm production expenditures to a record $260 billion in 2007. That’s according to the Farm Production Expenditures 2007 summary released Aug. 7 by the USDA’s National Agricultural Statistics Service. Total U.S. farm production expenditures […]
URBANA, Ill. — Better days are likely ahead for the cattle industry, according to a Purdue University Extension marketing specialist. “As numbers keep dropping, producers adjust inventories downward in the face of high feed and forage prices,” said Chris Hurt. “At mid-year, the number of all cattle and calves was modestly lower than the two […]
WASHINGTON — Agriculture Secretary Ed Schafer has put into place a new farm bill provision, increasing the limits on loans to $300,000 — up from $200,000 — for direct farm ownership and operating loans. Farm Service Agency (FSA) loan limits remained unchanged since 1984. “Our Farm Service Agency has already started making loans with today’s […]
Ohio’s farmland planted to corn is down 13 percent from 2007; soybeans up 11 percent.
Ohio’s June corn price of $6.67 per bushel is up $1.13 from May, and the state’s June soybean price of $13.90 per bushel is up $1.80 from May, and $6.18 above what was received at the same time last year.
Weather during the end of July can make or break the Midwest corn crop.
May pork sales set yet another monthly record while beef exports reached their highest levels since December of 2003.
The USDA’s July report shows a tight supply and demand situation for both corn and soybeans.
SPRINGFIELD, Ill. — The USDA’s Risk Management Agency is giving additional time, until Aug. 15, for submitting acreage reports for all 2008 crop year spring-seeded acreage in areas impacted by flooding and extreme weather conditions. Because of the possible difficulty in timely reporting due to disruptions in communications and other important infrastructure, the agency has […]
Pioneer Hi-Bred launched a new generation of soybean varieties with a 5 percent yield advantage.
COLUMBUS — With more than 600 pages and 15 titles, grasping a firm understanding of the 2008 farm bill can be daunting. But Ohio State University agricultural economist Carl Zulauf has made things a bit easier. Zulauf has summarized the titles and accompanying provisions of the farm bill through a series of Web-based documents. The […]
By Mike Roberts Commodity Marketing Agent, Virginia Tech BLACKSBURG, Va. — Corn on the Chicago Board of Trade finished limit down again July 7, with the exception of the July 2008 contract. Falling corn prices were a result of long liquidation, minor profit taking and forecasts for better weather in the Corn Belt. The July […]
U.S. farmers will receive up to $1.15 billion in 2008 advance direct payments.
Crops have incurred more than $8 billion in estimated weather-related damage so far in 2008.
WASHINGTON — The USDA’s Commodity Credit Corporation announced interest rates for July 2008 on July 1.
URBANA, Ill. — The USDA’s June Grain Stocks and Acreage reports revealed larger numbers than generally expected. These current estimates were negative for corn prices, but provided some support for soybean prices. “Taken together, the USDA reports were negative for corn prices,” said Darrel Good, University of Illinois Extension economist. “With a slowdown in corn […]
WASHINGTON — Connecticut Congresswoman Rosa L. DeLauro is focusing on congressional action to close loopholes that may be responsible for market manipulation of the oil and gas markets and/or excessive speculation. DeLauro spoke on the floor of the U.S. House or Representatives in support of Energy the Markets Emergency Act expected to be passed by […]
DENVER — Ten years ago, the U.S. exported 1.116 billion pounds of pork, making our nation the source of about 1 pound of every 6 pounds of pork traded globally. How times have changed. In the first four months of 2008 alone, the U.S. pork industry already has exported 1.389 billion pounds of pork products […]
DES MOINES, Iowa — DuPont business Pioneer Hi-Bred says it has identified and incorporated new proprietary molecular markers into its soybean research program. The new markers significantly enhance the company’s ability to bring to market soybeans resistant to three common destructive soybean pests: Asian soybean rust, soybean aphids and frogeye leaf spot. Boosting yields “These […]
WEST LAFAYETTE, Ind. — Inexpensive and abundant corn helped move the ethanol industry onto the alternative fuels fast lane. With corn prices now at record highs, demand outpacing supply and crop losses inevitable with the Midwest floods, ethanol production could soon be stalled, a Purdue University Extension agricultural economist said. As corn prices continue climbing, […]