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A Volatile Corn Market
Twitches
"The best news for corn producers is that USDA raised
its projected range for the U.S. average on-farm price of corn by
30¢/bu. on both ends and now sees prices averaging $3.20-3.80
during 2007-2008," reports Brock Associates after USDA released its Crop
Report on Friday.
However, USDA's bump in projected corn prices was lower than the market
expected, and the market's initial reaction to the news was negative,
says Richard Brock, Brock Associates president. "The market was
expecting a more bullish report for corn, and it didn't get it."
Still the USDA's new numbers put a higher floor on what corn prices
might fall to this marketing year, says Jim Hilker, Michigan State
University Extension marketing specialist. Hilker posted "Probabilistic
Price Forecasts for Corn" on Nov. 6 and says those price forecasts are
still valid after USDA released its Crop Report on Friday.
"Both historically and profit-wise, the futures prices for corn
are really good, even if you have a weak basis price right now," says
Hilker. "By March, I think basis prices will be stronger, especially if
you're near an ethanol plant. For now, the market is telling farmers to
hold onto their on-farm stored corn, and there's more than enough of a
price spread to cover storage costs."
According to Hilker's forecasts, which are based on options markets,
there is about a 50-50 chance that March corn futures will be close to
$4/bu. "There is a 10% chance that the price will be higher than $4.90
and a 10% chance that the price will be less than or equal to $3.23,"
predicts Hilker. "This indicates that there is an 80% probability that
the price will fall between these two prices. There is a 50% chance the
price will be less than or equal to (or greater than) $3.97."
The middle values to these probable prices (the prices in the 80%
probability range) "have proven to be quite accurate in the past," says
Hilker. However, he reminds farmers that these are futures prices that
have to be adjusted by the local basis price. Although Hilker predicts
that basis prices will increase in March, the basis prices typically
decrease at harvest.
To read more about probabilistic price forecasts for corn, click here:
www.msu.edu/user/hilker/crnfut.htm.
To read USDA's November crop production report, click here: usda.mannlib.cornell.edu/MannUsda.
To read more about the reaction from Brock Associates to Friday's USDA
crop report for corn, click here: www.brockreport.com/brockreport/news.
By John Pocock
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Boom Times For Corn
Production
Dale Launstein's new grain bin is so big it blocks the
rising sun. This 240,000-bu. bin stands 86 ft. tall and is half the size
of the local elevator.
"Just how much storage does this guy think he needs?" ask the locals at
lunchtime at The Lonetree Inn in downtown Holland, IA.
Launstein thinks his family operation needs a lot -- 553,000 bu. They
expect to fill their storage bins with this fall's corn crop, which is
hefty. Like many other farmers in the Midwest, the Launsteins planted
more corn acres after prices shot up to $4/bu., an outcome credited to
ethanol production's heavy demand for corn.
"The market was dictating that corn was going to be the best thing to
grow in 2007, but we knew that it was not going to stay that way
forever," Launstein says. "So the intent was to put up this bin and pay
for it very quickly with a corn-on-corn rotation." He estimates the
price of the bin and equipment to be a half-million dollars and expects
to pay for it in three years.
To read more of this article about the boom times for corn, click here:
farmindustrynews.com/biofuels/farming_boom_times/.
By Jodie Wehrspann
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Continuous
Corn Solutions Offered At No-Till Conference
Ohio no-till growers practicing continuous-corn
production face issues normally remedied with crop rotation. Overcoming
production issues with corn-after-corn management will be addressed
during the Ohio No-Till Conference, Dec. 4.
Ohio State University (OSU) Extension agronomist Peter Thomison will
join Emerson Nafzinger from the University of Illinois to present a
session on the challenges growers face with continuous corn under
no-till production.
The conference, sponsored by the Ohio No-Till Council in cooperation
with OSU Extension and USDA's Natural Resources Conservation Service,
will take place from 8 a.m. until 3:15 p.m. at Der Dutchman Restaurant
in Plain City, OH. Registration is $20 before Nov. 29 and $25 at the
door, and includes refreshments, exhibits and lunch.
"We'll be discussing everything from how corn responds in crop rotations
during different growing seasons, to hybrid selection for corn after
corn, to selecting the best traits that fit into a corn-after-corn
system," says Thomison, who also holds an Ohio Agricultural and Research
Development Center research appointment.
Dominated by a corn-soybean production system, widespread
continuous-corn production is relatively new to Ohio. But with the
increased interest in ethanol production, more growers are looking to
make the switch. With continuous corn, however, come many risks, says
Thomison.
The biggest issue under continuous-corn production is the large
amount of residue that is generated. That residue can result in a
variety of planting and harvesting problems, including:
- Greater levels of disease inoculum. Continuous corn increases the
frequency and severity of disease problems.
- Cooler, wetter soils during and after planting, which result in
delayed germination and emergence, slower vegetative growth, prolonged
exposure to diseases and insects and compaction during harvest.
- Interference with planter row units. The presence of residue from
previous corn crops may cause uneven seedling depths and poor
seed-to-soil contact.
- Decreased efficacy of soil-applied herbicides.
- Increased stand establishment problems due to slow warming and
drying of soils, especially those that are poorly drained.
- Greater potential for nitrogen losses.
"The risk and magnitude of yield drag and other problems associated with
continuous corn is greatest with no-till on poorly drained soils," says
Thomison. Other problems include a greater risk to diseases caused by
western corn rootworm and a longer harvest season due to time and
capacity demands on machinery, drying facilities, transportation and
storage.
"One of the goals of the presentation is to provide growers
recommendations to practice continuous corn under no-till and to provide
research data that support those recommendations," says Thomison. Other
topics presented during the Ohio No-Till Conference include selecting
and establishing cover crops, nitrogen credits from legume cover crops
after wheat and a farmer panel highlighting the success of continuous
corn in no-till production. OSU Extension specialists, experienced
no-till farmers and industry experts will be on-hand to present the
information.
For more information on the Ohio No-Till Conference, contact Randall
Reeder at 614-292-6648 or reeder.1@osu.edu. Mail registration
to Mark Wilson, Land Stewards, 31 East Pacemont Road, Columbus, OH
43202.
Source: Ohio State University
Extension
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New Fertilizer For Corn Following
Corn
Mosaic Crop Nutrition introduces a new line of
fertilizer products to address sulfur and zinc deficiencies that may
develop in corn-on-corn fields.
Mosaic MicroEssentials SZ is a granular fertilizer that contains
nitrogen, phosphorus, zinc and sulfur. The new fertilizer has two forms
of sulfur: sulfate sulfur, which is immediately available to the crop,
and elemental sulfur, which is a slow-release sulfur source. Mosaic
explains that, because each granule contains all four of the nutrients,
they are uniformly distributed and readily available to plants.
MicroEssentials is sold through key dealers, according to Mosaic. For
more information, click here: www.mosaicco.com/PRODUCTS_&_SERVICES.
Source: Farm Industry News
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Corn Growers
Thank House Of Representatives For WRDA Override
Vote
The National Corn Growers Association (NCGA)
expressed elation last week that members of the House of Representatives
acted quickly to override President Bush's veto of the Water Resources
Development Act (WRDA) of 2007. The House vote was 361 to 54 and 18
members were not present to vote.
"This is great! We have worked so hard and so long to get improvements
on the upper Mississippi River system authorized," says Ron Litterer,
president of the NCGA and a corn grower from Greene, IA. "We especially
want to thank the members and staff of the House Transportation and
Infrastructure Committee, who have worked so hard on this landmark
legislation under the leadership of Chairman Jim Oberstar of Minnesota
and Ranking Member John Mica of Florida."
To read More about the House WRDA Overide Vote, click on the following
NCGA Web link: www.ncga.com/news/notd/2007.
Source: NCGA
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NCGA
Celebrates Enactment Of WRDA
The National Corn Growers Association (NCGA) applauds
the Senate in its 79-14 decision to overturn President George W. Bush's
veto of the Water Resources Development Act (WRDA), enacting this
long-awaited legislation.
"When it comes to this issue, nothing has been easy," says NCGA
President Ron Litterer. "After almost two decades of work by corn
growers, millions of dollars spent on studies, seven years of waiting on
the legislative process, a presidential veto and then a veto override by
the U.S. Congress, we finally have achieved authorization to modernize
seven locks on the upper Mississippi River system. Once again, our
grower members demonstrated their influence and commitment to the WRDA
by contacting their members of Congress and urging them to overturn the
president's veto."
For more information about the Senate WRDA override, click on the
following NCGA Web link: www.ncga.com/news.
Source: NCGA
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Despite Summer Drought, Corn Yields Heading
For Record Books
Despite an abnormally dry season, and in some cases a
severe drought, Ohio's corn harvest is wrapping up with
better-than-expected yields, much to the surprise of growers and
agronomists alike.
According to the USDA's October production report, the average statewide
yield is anticipated to top 150 bu./acre. If realized, it will be the
fourth highest yield on record, behind record-breaking seasons in 2003
(156 bu./acre), 2004 (158 bu./acre) and 2006 (159 bu./acre). Ohio
growers are anticipated to harvest 3.6 million acres this year, the most
harvested since 1986.
"People are baffled, although happily so," says Peter Thomison, an OSU
Extension agronomist. "They are asking where all the yield is coming
from. I think the phenomenal performance of this year's corn crop points
to the genetics and continued improvement of the hybrids. It also
emphasizes the gaps in our knowledge about how corn responds to weather.
With the protracted periods of dry weather this season, we expected
average yields at best in many fields, but we certainly didn't
anticipate the bumper yields we have been seeing."
In some cases, growers are averaging 200 bu./acre, he adds. "Although
there are some localized areas that were impacted from the weather and
yields have suffered, there are other areas where it's just the
opposite," saysThomison, who also holds a research appointment with the
Ohio Agricultural Research and Development Center.
The only concern as the corn harvest wraps up is the potential for
lodging problems if the corn is left in the field too long -- generally
beyond mid-November, he adds. "Growers who may be waiting for storage
space to free up are running a risk if they leave their corn in the
field too long," says Thomison. "Stalk rots predispose the crop to
lodging, and ears fall off more readily the longer the crop stays in the
field. Corn has been so dry this year, that in some cases, the crop is
more brittle and the ears pop off the plant more readily. Some growers
are already experiencing losses because of this, so it's important to
get out there and harvest as quickly as possible."
Source: Ohio State University
Extension
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Monsanto And
Devgen Describe New Approach To Insect-Protection
Scientists at Monsanto Company working in
collaboration with Devgen NV, have identified an innovative and precise
approach to protect crops against insects, which models a novel
application of a Nobel-Prize-winning discovery. The technology is
expected to provide farmers with a new in-the-seed option to protect
crop yields and present another tool to support agriculture's mission of
meeting the world's growing food, feed and fuel demands.
The results of the companies' research were published in the November
edition of the peer-reviewed scientific journal Nature
Biotechnology. The published scientific paper is a result of both
individual work at Monsanto and Devgen, as well as a collaborative
research and development effort between Monsanto and Devgen.
The enabling technology, called RNA interference or RNAi, is a
biological mechanism found in nature as a way to regulate gene
expression. Monsanto identified novel applications of RNAi, enabling
plants to be better protected against insect pests that feed on crops
and impact yield.
"This technology has the ability to effectively control very specific
plant pests," says Thierry Bogaert, CEO of Devgen. "This is a
breakthrough in crop protection."
The research is expected to allow scientists to harness the cell's
natural ability to regulate protein production and apply it to produce
insect protection for the plant. Monsanto scientists are working on
incorporating this promising application of RNAi into one of the
company's future insect-protected corn projects.
The 2006 Nobel Prize was awarded to Andrew Fire at Stanford University
and Craig Mello at University of Massachusetts for their discovery of
naturally occurring RNAi processes in animals. To see a copy of the
study published recently in Nature Biotechnology describing the
research in RNAi to control insect pests, please visit www.nature.com/naturebiotechnology.
Source: Monsanto
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U of I Crop Protection Technology Conference
Convenes Jan. 9-10
The University of Illinois' (U of I) 2008 Crop
Protection Technology Conference is scheduled for Wednesday, Jan. 9 and
Thursday, Jan. 10, 2008, at the Illini Union on the U of I campus.
The program will feature five issue-based symposia focused on current
and upcoming issues. These include high-production soybean management,
managing nutrients and water quality, pest resistance and resistance
management, integrated pest management in the crosshairs and
high-production corn management.
The pre-registration fee for the conference is $120. Registration after
December 14 or at the door will be $150. Special rates at participating
hotels are available for those attending the conference.
Participants will receive a copy of Proceedings of the 2008 Crop
Protection Technology Conference and Illinois Agricultural Pest
Management Handbook. Certified Crop Advisor credits will be offered.
Registration and program information on the 2008 Crop Protection
Technology Conference is available at: www.ipm.uiuc.edu/conferences/cptc/index.html.
Source: University of Illinois
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Ideas,
Proposals Sought For ISU 2008 On-Farm Grant Program
Ideas and proposals are being sought for a unique
program pairing farmers with Iowa State University (ISU) researchers to
work on topics related to conservation and sustainability.
Proposals are due on Dec. 17 for the 2008 ISU On-Farm Research and
Demonstration Grant Program. The program is a partnership of the College
of Agriculture and Life Sciences and Practical Farmers of Iowa. Its
goals are to address the opportunities and challenges facing agriculture
through collaborative, on-farm research.
During the past two years, the College of Agriculture and Life Sciences
has awarded 21 grants to teams of ISU researchers and farmer
collaborators. A total of $50,000 will be awarded in 2008 as one-time
individual grants of up to $5,000, or up to $7,000 if more than one
producer is involved. Meaningful involvement of both producers and ISU
researchers or Extension staff should be demonstrated in the proposal
and execution of projects.
"Farmers can and do add much to the research process and provide insight
and direction on what is needed in today's agriculture," says Jerry
DeWitt, who directs the Leopold Center for Sustainable Agriculture and
assists the college in the on-farm grant program. "This program
recognizes the importance of farmers and researchers working together to
tackle emerging problems in the field."
ISU faculty, Extension, staff or graduate students must be involved in
proposed projects, says DeWitt. Farmers with ideas for proposals, or who
are interested in participating in on-farm research, are encouraged to
contact Rick Exner, ISU-PFI Farming Systems Coordinator at 515-294-5486,
dnexner@iastate.edu. Exner
assists in project development by matching scientists and farmers and by
providing suggestions on proposal development. Although farmers may not
directly apply for the grants, they will be compensated for their
contribution to projects.
Research topic areas, submission instructions and other information are
available on the Leopold Center Web site at: www.leopold.iastate.edu.
Primary funding is from the College of Agriculture and Life Sciences
with additional support from the Leopold Center, Extension Sustainable
Agriculture Program, Iowa Pork Industry Center, Iowa Beef Center,
Extension Value-Added Program and Practical Farmers of Iowa.
Source: Iowa State University
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Science Backs Up Some Weather
Lore
Some folklore that has survived into modern times has
proven to be accurate more often than not and in a rather broad array of
geographic locations, says Mary Knapp, State of Kansas climatologist.
These more dependable bits of folk wisdom include:
- Red sky at night: sailor´s delight. Red sky at morning: sailor,
take warning.
- Ring around the moon, rain by noon. Ring around the sun, rain before
night´s done.
- When dew is on the grass, rain will never come to pass.
- If insects are flying low, wet weather will follow.
- When leaves fold and flowers close, you´ll soon have a wet
nose.
The U.S. National Aeronautics and Space Administration has a Web site it
calls the SciJinks Weather Library (scijinks.jpl.nasa.gov/weather/).
It offers activities, weather film clips, videogames and a section on
folklore from around the world, says Knapp, who is in charge of the
Kansas Weather Data Library for Kansas State University Research and
Extension. She also maintains its Web site at: www.oznet.ksu.edu/wdl/.
Source: Kansas State University Research and
Extension
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Help For
Military Families: A Note From The Corn E-Digest
Editor
As a son of a Vietnam veteran, I know firsthand how
difficult life can be for military families during a time of war. I also
know how heartwarming it is to be the beneficiary of kind acts from
caring people who want to show their support to both the troops and
their families, at any time.
Yesterday, our nation observed Veterans Day. If you haven't already done
so, please consider how you might be able to encourage someone serving
in the military or their family. There are plenty of organizations
available to help you connect. Here's a Web link for more information:
www.americasupportsyou.com.
As always, if you have any suggestions on what you'd like to see covered
in a future issue of the Corn E-Digest, or if you have concerns
or questions about this issue, please write me (John Pocock) at: jpocock@csdigest.com.
Thanks for your readership.
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