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.
WEST LAFAYETTE, Ind. — The seasonal pork price increase from early April to early June over the past five years was $11 per live hundredweight, and this year the seasonal increase has been $23 so far. “That’s more than double the normal,” said Chris Hurt, a Purdue University Extension agricultural economist. Hog prices have gone […]
Planting delays and cool weather have slowed corn development, paving the way for a potential issue with slugs in no-till fields.
WASHINGTON — According to the USDA Economic Research Service, the outlook for total red meat and poultry production will be down slightly next year. Beef/cattle Deteriorating pasture and range conditions over much of the Plains and increasing livestock production costs are adversely affecting all cattle and beef sectors. Smaller inventories of U.S. cows, calf crops […]
URBANA, Ill. — Corn and soybean markets are not reliant solely on energy or futures prices to support their levels, said a University of Illinois Extension marketing specialist. “Some suggest that corn and soybean prices have not been following fundamentals, but have traded on outside markets like crude oil,” said Darrel Good. “However, energy prices […]
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.