This piece looks at the difference in million bushels between the first WASDE stocks estimate and the final one for that marketing year issued 18 months later in the following November.
Debate on the farm bill could heat up Thursday as Senate Agriculture Committee leaders hold a press conference while the House side holds a hearing lined with witnesses who will likely lend strong support to crop insurance programs.
Farm subsidies aren't what they used to be. High market prices have erased most government farm support in recent years, but shrinking formulas for commodity programs in the pending farm bill make some growers and farm consultants edgy.
As recently as 2005, Midwest farmers in the Brighton, Ill., AgriSolutions database collected an average of $84/acre in government payments from all sources, including conservation payments, price supports and disaster aid, AgriSolutions financial consultant Sam Bachman found.
July corn futures posted a 14-cent rally Tuesday moving off of year-long contract lows in the July contract and creating expectations that additional support may be developing. This pushed ethanol futures 2 cents higher on expectation of additional cost of production.
Livestock feeders couldn't be happier about the grim prognosis for the U.S. corn market following the release of USDA's bearish supply and demand estimates on Thursday.
Farmers in Mato Grosso have sold all but 6% of their soybean crop, making for a very quiet market for the rest of the year. The Brazilian harvest isn't yet over, but farmers in Mato Grosso have already sold 94% of their crop.
Despite its efforts at transparency, the Federal Reserve is still studied the way the old Soviet Union was studied, with specialists reading between the lines for clues. Lately those studying the Fed have seen some signs that the Fed is starting to lean away from its current easy-money bias.
As we watch expanded electronic trade coming down the road, we can't help but wonder how today's trade would have turned out after USDA's surprise this morning if immediate trading had been possible.
Most farmers wait too long to tackle tough weeds such as waterhemp. University of Illinois weed scientist Aaron Hager showed the maximum size for postemergence herbicide applications. (DTN photo by Pam Smith)
Size Matters in Weed ControlExtended Planting Season Could Present Big Weed Challenges5/1 6:24AM Timing for weed height is critical to get the most out of a postemergence herbicide application. Most herbicide labels state that broadleaf weeds should be no more than 4 to 6 inches tall and grasses even smaller.
Wed May 2, 2012 09:36 AM CDT Scouting for pests is even more critical this year. A mild winter coupled with an unseasonably warm start of the season should have growers on the lookout for insects this season.
Fri May 11, 2012 03:12 PM CDT A national summit discussed a coordinated strategy for managing herbicide resistant weeds in the United States. Best management practices are suggested before mandatory measures.
Thu May 10, 2012 06:19 AM CDT The early spring weather has entomologists on the watch for soybean insects. Here are some potential pests to scout for during the 2012 season.
Livestock
Show-Me-Select Replacement Heifers with the white, Tier Two tags in their ears sold best in a sale at Fruitland, Mo., May 5. Bidders averaged paying $134 more for the heifers bred to high-accuracy proven sires. (Photo by Duane Dailey, University of Missouri Cooperative Media Group)
Record HeiferBred Heifer Prices Bump Up Over $3,000 Mark5/14 11:00AM Registered Angus heifers took top spots in Missouri's latest replacement heifer sale at Fruitland Livestock Auction. A single, bred heifer sold for $3,400, setting a new record. She came off of Lazy P Ranch of Oak Ridge, Mo.
Mon May 14, 2012 11:09 AM CDT Old, open or ornery means an automatic ticket to town for Jacot Ranch cows. That's just simple economics for Paul Jacot and his son, John. But the Moline, Kan., cow/calf men have been changing their culling strategy lately in order to head the herd in a whole new direction.
Mon May 14, 2012 11:11 AM CDT No matter how much beef producers need it to be good, the productivity of the grass and feed season ahead still looks iffy.
Mon May 14, 2012 11:03 AM CDT Can I sell an animal that's been treated with a medicine that requires a long withdrawal time?
Land Management
Tom Hill and Sons Farm has reduced its catfish production in light of changing economic times, Wayne Hill says. The farm produces half the cats it once did and now produces more soybeans, wheat and corn. (Progressive Farmer image by Jim Phillips)
Beans Vs. CatsHigh Feed Prices, Foreign Competition Drain Many Catfish Ponds4/4 10:35AM A decade ago, a drive north out of Belzoni, Miss., on U.S. Highway 49 had the feel of cruising on a causeway across a massive lake. On both sides of the highway were dozens of man-made ponds -- the view was of a virtual sea of catfish.
Thu Apr 12, 2012 10:34 AM CDT Charles and Lawrence Davenport, of Pitt County, N.C., farm along a major river near the Atlantic Ocean. With water all around the row-crop operation, you'd think soil moisture wouldn't be a problem. But irrigation is a key to producing high yields here, and the Davenport brothers are developing strategies to conserve a precious resource.
Mon May 7, 2012 05:35 PM CDT Cattleman uses rotational grazing on his farm to decrease the effects of raging rivers.
Farm Business
Accumulator grain sales contracts offer farmers a way to earn a premium, but it comes with substantial risk. (DTN photo by Jim Patrico)
Smart Marketing - 1Accumulator Contracts: Big Premium, Bigger Risk5/11 12:24PM Accumulator contracts may be popular in the big grain-growing states, but farmers should be aware of the terms and how it can leave them exposed to price risk.
Boeing workers prepare communications satellite SkyTerra 1 for launch. Boeing was listed as LightSquared largest creditor when it filed for bankruptcy. (Photo courtesy LightSquared)
LightSquared Files BankruptcyCompany Plans to Continue Pursuit of Network5/15 1:35PM LightSquared lists between $100 million and $500 million in debt spread out between 50 and 99 unsecured creditors. It was feared the company's planned wireless network would interfere with GPS signals and precision ag.
Fri May 11, 2012 12:19 PM CDT Western Growers, which represents major fruit and vegetable producers in California and Arizona, is working to pull together a coalition of business groups wanting Congress to take some action to help address labor challenges.
Wed May 9, 2012 04:08 PM CDT House Agriculture Committee Chairman Frank Lucas and ranking member Collin Peterson agree the farm safety net should continue a counter-cyclical program. Lucas has other complaints about the Senate farm bill.
Fri May 11, 2012 12:17 PM CDT Though TransCanada said a new proposed corridor for the proposed Keystone XL pipeline would avoid the Sandhills, local property owners remain unconvinced.
Farm Life
Ben Bernanke and the Federal Reserve may increase interest rates, but that likely won't happen in a hurry. (Photo by Medill DC (CC BY-SA 2.0)
An Urban's Rural ViewFed More Hawkish But Rate Rises a Ways Off5/14 1:41PM Despite its efforts at transparency, the Federal Reserve is still studied the way the old Soviet Union was studied, with specialists reading between the lines for clues. Lately those studying the Fed have seen some signs that the Fed is starting to lean away from its current easy-money bias.
Mon May 14, 2012 02:19 PM CDT A decade ago, a drive north out of Belzoni, Miss., on U.S. Highway 49 had the feel of cruising on a causeway across a massive lake. On both sides of the highway were dozens of man-made ponds -- the view was of a virtual sea of catfish.
Mon May 14, 2012 11:37 AM CDT One of the vacations of my childhood was to beautiful Des Moines, Iowa. Because they were close by and probably fairly inexpensive, my family tended to utilize the surrounding states close to eastern Nebraska for our family vacations.
Tue May 15, 2012 08:28 AM CDT View From the Cab participant Katie Sanger Hancock waits for precip in Kentucky before planting soybeans while Ryan Brodersen is getting just-in-time rains in Nebraska.
Featured Column
CME and ICE aren't joining forces, but the trade by the two organizations will be more closely tied by changes in the standard pricing mechanism for agricultural commodities. (Ice block photo by Paul Dunleavy, CC BY-SA 2.0; illustration by Nick Scalise)
Kub's DenCool As Ice 5/15 10:36AM Elaine Kub expects that expanded grain trading hours will mean expanded opportunities to react to real-time developments.
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Keeping a Brother's Trust
