By MIKE WOOLVERTON Extension Grain Economist Sighs of relief were heard throughout the grain trade last week as corn and soybean planting both progressed. Ordinarily, prices would drop as the Battle for Acres was resolved, but corn and soybean prices have remained strong due to rising energy prices. Close scrutiny Corn and soybeans are now […]
BASEL, Switzerland — Syngenta has reached a definitive agreement with Monsanto, which settles all outstanding litigation relating to the two companies’ global corn and soybean businesses. The agreement gives Syngenta enhanced flexibility in serving its customers and will expand the technology choices available to growers. Terms Terms of the agreement include: — Monsanto receives a […]
URBANA, Ill. — Between 2003 and 2007, the majority of corn and soybean production cost increases can be attributed to crude oil price increases, according to a new University of Illinois Extension study. “If crude oil prices continue to rise, production costs for corn and soybeans likely will continue to rise,” said Gary Schnitkey, a […]
WEST LAFAYETTE, Ind. — Recent hog prices are described as a “miracle” by a Purdue University Extension marketing specialist, who compares the high prices to an answered prayer.
High energy prices, increasing global demand, drought and other factors — not biofuels — are the primary drivers of higher food costs.
Reduced plantings are expected to push cottonseed prices to $400/ton.
A House agriculture subcommittee held a hearing May 15 to review the source of volatile price movements in agricultural and energy commodity markets.
While weather should improve in the next two weeks, it will not be enough to make up for planting delays already endured by the nation’s corn farmers.
WASHINGTON — While financial and risk-management decisions always have been challenging aspects of farm and ranch work, extreme volatility in commodity markets in recent months has made these jobs even more difficult for farmers, even as prices have soared. During a Capitol Hill hearing today, American Farm Bureau Federation President Bob Stallman told lawmakers that […]
By DARYLL RAY Times of crisis often shine a bright light on long-standing problems. That was just as true in 1974 as it is today. In mid-1974, agricultural commodity prices were triple the level of two years earlier and concern was raised that malnutrition in developing countries was on the rise. Currently, we are in […]
URBANA, Ill. — Corn is responsible for most of the uncertainty in the market, and much of that is associated with the U.S. situation, said a University of Illinois Extension marketing specialist. “Late corn planting suggests that planted acreage may not significantly exceed producer intentions of only 86 million acres,” said Darrel Good. “Based on […]
Tight supplies and strong demand mean prices for corn and soybeans are likely to remain high for the foreseeable future.
HARRISBURG, Pa. — Based on May 1 conditions, Pennsylvania’s 2008 production of winter wheat is expected to be 23 percent above 2007. Final total tobacco production figures for 2007 were up 6 percent from 2006. May 1 hay stocks are estimated to be down 4 percent from a year ago, according to the Pennsylvania office […]
WASHINGTON — The U.S. Department of Agriculture just released its monthly World Agriculture Supply and Demand Estimate, which included the first estimate of the 2008-2009 corn crop, the National Corn Growers Association noted. USDA is projecting 86 million acres of corn will be planted this year, of which 78.8 million will be harvested. USDA also […]
URBANA, Ill. — Assuming that the majority of the corn crop gets planted before the middle of May, prospects for a 2008 average U.S. yield at or above trend will be maintained, said a University of Illinois Extension marketing specialist. “The question is whether trend yield will be sufficient,” said Darrel Good. “An estimate of […]
By Daryll Ray How long can this go on? How much higher will corn prices go? Those questions are of concern not only to corn farmers, but to producers of other crops, as well. In general, the price increase for other commodities followed that of corn as crops competed with each other for acreage as, […]
April 28, corn futures on the Chicago Board of Trade were up nearly 23 cents, the soybeans were down 42 and a fraction, and the wheat futures were up more than 25 cents.
URBANA, Ill. — While the pace of the domestic soybean crush is slowing, the pace of exports and export sales of U.S. soybeans remains generally strong, said a University of Illinois Extension marketing specialist. “For the year, the USDA projects exports at 1.075 billion bushels, only 3.8 percent below the record shipments of last year,” […]
WEST LAFAYETTE, Ind. — Calf prices will be highly influenced by volatile feed prices as well as bullish finished cattle prices, said a Purdue University Extension marketing specialist. “Much is riding on the size of grain, soybean and forage crops this spring and summer,” said Chris Hurt. “Eastern Corn Belt steer calf prices are expected […]
WASHINGTON — While the declining value of the U.S. dollar is good news for U.S. exports in general, the weaker dollar is making U.S. grain exports to Asia more expensive by drying up the supply of empty containers headed back to Asia. For several years, strong U.S. imports of just about everything from Asia meant […]