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, […]
Livestock market reacts with mixed signals: Higher futures may dampen liquidation expectations.
VANCOUVER, British Columbia — The biodiesel industry is celebrating following the final vote by the ASTM International D02 Main Committee to approve a trio of long-awaited ASTM specifications for biodiesel blends. Specifications After more than five years of extensive research and subsequent balloting by the ASTM fuel experts in the blended fuel balloting process, ASTM […]
WASHINGTON — U.S. Senator Chuck Grassley, R-Iowa, spoke to the National Biodiesel Board June 18, telling industry leaders that he will continue to press for passage of an extension of the biodiesel tax incentive. Grassley also refuted the Grocery Manufacturers Association’s “intellectually dishonest and economically unfactual” biofuels smear campaign. Grassley stressed the importance of biodiesel […]
URBANA, Ill. — While corn prices have moved sharply higher as production expectations were scaled back, it is still not clear how much rationing will be required during the 2008-2009 marketing year, said a University of Illinois Extension marketing specialist. “The USDA will release its annual acreage report on June 30. It may provide some […]
WASHINGTON — Within three weeks of commodity title enactment in the 2008 farm bill, USDA is implementing marketing assistance loan and loan deficiency payment (LDP) provisions. USDA also announced county loan rates for 2008 crop of wheat, corn, grain sorghum, barley, oats, soybeans, and other oilseeds. The national loan rates for the 2008 crops of […]
Ohio task force recommendations link agriculture with chemical and polymer industries.
WEST LAFAYETTE, Ind. — Those who blame ethanol for high corn prices need to dig deeper — oil well deep, said a Purdue University agricultural economist. “If you say biofuel production is the reason corn prices are going up, you would be right,” said Wally Tyner, an energy policy specialist. “But the more important question […]
WASHINGTON — Foreign coarse grain production in 2007-2008, forecast at 708 million tons, is up 1 percent from a year earlier. Foreign is defined as world production less U.S. production. Area increased in response to attractive prices, but average yield declined slightly due to poor weather in several key regions. Corn Foreign corn production is […]
WASHINGTON –In the first half of fiscal year 2008, U.S. agricultural imports are up nearly 12 percent in value and more than 5 percent in volume (metric tons only), indicating that import price inflation is about 6 percent. Despite the sluggish U.S. economy and the continued weakness of the dollar, import volume is expected to […]
As the dollar weakens further, the world economy is more favorable to growth in U.S. exports and farm exports than expected earlier this year.
World trade expected to reach a record 123 million tons.
New technnology and site-specific weed management can lower crop costs, help environment.