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What's Happening
In MarketMaxx?
June 10, 2008
The signup for MarketMaxx has ended – so start trading if you
haven’t already. Thanks to all of you for taking the time to
become a MarketMaxx player. The game continues through Oct. 31,
2008. And the farmer with the highest selling price for his or her
100,000 bu. of corn or 50,000 bu. of soybeans will be a grand prize
winner.
Being a good marketer is essential, especially with prices continuing to
set records. Last week’s December corn futures market blew through
$6.70 like it was nothing. It surged through $7 today. How do you take
advantage of such volatility? Some of the answers may be found on the
Corn & Soybean Digest Web site at www.cornandsoybeandigest.com,
and at www.MarketMaxx.net.
There are 8,277 MarketMaxx players. As expected, the Corn Belt
leads the way. Iowa has 1,203 players; Illinois, 913; Nebraska, 635;
Indiana, 540; Ohio, 479; North Dakota, 458; Wisconsin, 357; Kansas, 334;
South Dakota, 327; Michigan, 249; Missouri, 253; and Texas, 150.
MarketMaxx Prizes
All farmers in the contest are vying for a host of big prizes. Grand
prize for the corn contest is a Gleaner R5 or A5 series combine (up to
100 combine separator hours). The soybean winner will receive a year's
use (not to exceed 250 hours) of the choice of any PowerMaxx
CVT-equipped AGCO RT or DT series tractor.
Second prize for each contest is a complete computer system plus
software from Syngenta Crop Protection. Third prize in the corn contest
is a complete Leica mojoRTK auto-steer system from Leica Geosystems.
Third prize in the soybean contest and fourth prize in the corn contest
is a DICKEY-john mini GAC Plus handheld moisture tester.
Players are reminded to visit the www.MarketMaxx.net Web site and
take advantages of the services offered. There are links to help you
improve your marketing plan, a complete glossary to help you tone up
your knowledge of marketing tools available, and regular market
commentary from Kevin McNew, president of Cash Grain Bids. His review
of corn and soybean basis changes across the Corn Belt can help you get
a glimpse of markets across the country.
Take advantage of this MarketMaxx e-newsletter. The latest market
commentary from leading university and private grain marketing
specialists -- information you can use to enhance your corn and soybean
marketing program -- is available in every newsletter. Track leaders in
the game against your selling prices. It will continue to arrive in
your e-mail inbox every other week throughout the year.
Go to www.MarketMaxx.net and
check out the MarketMaxx forum. And look over the many great
prizes offered by our MarketMaxx sponsors.
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MarketMaxx
Leaderboards
Top 10 Leaders – Corn Contest
Roy Sangmeister, Manhattan, IL, $8.33.58
Corey Brandau, Peotone, IL, $8.07
Ralph Sangmeister, Peotone, IL, $7.98.08
Terry Hiatt, Atlanta, MO, $7.78.53
Howard Wilson, Marlette, MI, $7.71.1
Brian Roh, Dodgeville, WI, $7.64.34
Janice Good, Medina, OH, $7.57.69
Dale Good, Medina, OH, $7.56.56
Chris Schnell, Sully, IA, $7.37.88
Ron Falk, Monticello, IL, $7.30.83
Top 10 Leaders – Soybean Contest
Roy Sangmeister, Manhattan, IL, $20.66.8
Corey Brandau, Peotone, IL, $20.58.16
Steve Mercer, Kearney, NE, $17.19.95
Ed Krelo, Elkville, IL, $16.86.17
Andy Bensend, Dallas, WI, $16.77.81
Jeremy Svitak, Howells, NE, $16.51.81
Arlin DePatis, Walnut, IL, $16.19.8
Holly Utterback, Robinson, IL, $16.04.08
Rick Lemke, Mequon, WI, $15.84.18
Jim Spahr, Seward, NE, $15.83.28
Market Commentary
Rapidly Changing Crop Markets
By Darrel Good, University Of Illinois Extension Economist
Last week there began to be some discussion about the end to the higher
price trend in corn and soybean prices. Ironically, that discussion was
followed by a move to new contract highs in both markets.
A number of factors unfolding over the past two weeks suggested that the
increase in corn and soybean prices that began last fall might be coming
to an end. USDA’s announcement of haying and grazing provisions for a
large number of Conservation Reserve Program (CRP) acres suggested to
some that there would be a significant decline in feed grain demand in
the last half of 2008. Declining crude oil prices and the general
worldwide assault on biofuels production also signaled a potential
decline in corn and vegetable oil demand.
Suggestions that the U.S. government might take steps to defend the
value of the U.S. dollar were viewed as potentially negative for export
demand for U.S. crops. The sharp decline in wheat prices that made wheat
competitive as a feed grain also pointed to a weakening demand for U.S.
corn. The announcement by the Commodity Futures Trading Commission
relative to the withdrawal of proposals to increase speculative position
limits and to expand hedge exemptions was thought to signal a bursting
of the speculative bubble in crop prices, even though credible evidence
of a speculative bubble was lacking.
What changed? Two developments last week dramatically altered the
fundamental situation for corn and soybeans. One was the reversal in
crude oil prices. After declining by more than $10/barrel, crude oil
prices rebounded to new highs on June 6. The reversal followed from
forecasts of continued upward pressure on prices into the summer months.
Sustained high crude oil and gasoline prices would likely keep ethanol
prices moving higher and support corn demand.
The second factor was the widespread heavy precipitation in major corn
and soybean producing areas. The ongoing wet weather means further
delays in the completion of planting. It now appears likely that not all
of the acres intended for corn and soybean production will get planted
or re-planted. At a minimum, significant acreage will be planted well
beyond the optimum window for obtaining maximum yields. Whether from
smaller planted acreage, smaller harvested acreage, or reduced yields,
expectations about corn and soybean crop size are being scaled back.
With trend yields, USDA has already forecast a sharp reduction in U.S.
corn inventories by the end of the 2008-09 marketing year and the
continuation of very tight soybean inventories. If production falls
short of expectations, further reductions in corn consumption and
rationing of soybean consumption would be required.
USDA will release today (June 10) updated projections of supply and use
for the current and upcoming marketing years. Those updates may contain
some revisions in the projected level of consumption during the current
marketing year. Soybean exports are progressing at a more rapid pace
than projected, while corn exports have slowed. The most interest,
however, will be focused on any adjustments in the average yield
projections for 2008 and the implications for inventories at the end of
the 2008-09 marketing year.
Potential crop size may continue to dominate the movement in corn and
soybean prices over the next several weeks. Ultimately, however, the
strength of demand for these crops will be most important as demand will
determine the level of price needed to ration production. Consumption
rates will be closely monitored for signs of a slowdown in use.
The widespread concern about food price inflation leads to questions
about the potential for market intervention if crop prices remain high
or move higher. Some intervention occurred earlier as a number of
countries adapted policies to restrict exports or encourage imports in
the face of high prices. U.S. export restrictions are highly unlikely,
but other policy measures could be considered in extreme circumstances.
There are two obvious measures that could have significance. One is
additional CRP initiatives to increase the availability of forage or to
expand crop acreage for harvest in 2009. The second is a restriction on
biofuels production. Reducing or eliminating biofuels mandates has been
proposed, but mandates are not currently the driving force in biofuels
production. Production is motivated by gasoline prices and blender tax
credits.
Uncertainty about crop production, demand strength, and potential policy
changes suggest that significant price risk will persist into the heart
of the corn and soybean growing season.
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Additional
Commentary
Corn Conditions Deteriorate
From The Brock Report
U.S. corn conditions deteriorated last week and soybean planting
progress was minimal as a result of excessive rains and flooding across
large portions of the Midwest.
Monday afternoon’s USDA weekly crop update rated the U.S. corn crop
60% good/excellent as of Sunday, down from 63% a week earlier and 77% a
year earlier. U.S. corn emergence was pegged at 88% against a five-year
average of 95%.
USDA estimated soybean planting to be 77% done as of Sunday, behind the
five-year average of 89% and up only 8 percentage points from a week
earlier. Soybean emergence was estimated at 56% compared with a
five-year average of 74%. USDA’s first ratings of the 2008 soybean
crop showed 57% of the crop in good/excellent condition, compared with
last year’s rating of 70%.
Corn conditions declined notably in the top two producing states of
Iowa and Illinois last week. The Iowa corn crop was rated 56%
good/excellent, down from 66% a week earlier, while the Illinois rating
fell to only 47% good/excellent from 54% last week.
Some 7% of Iowa corn acreage had been replanted by Sunday, up from 4% a
week earlier and 6% a year earlier, according to the Iowa office of the
National Agricultural Statistics Agency.
In Illinois, average corn plant height was estimated at only 7 in.,
compared with 23 in. a year earlier and a five-year average of 17 in.
Illinois soybean planting was more than a week behind at 66% done
against a five-year average of 92% and emergence lags far behind at 45%
against an average of 82%. Delays are very severe in the Illinois’
southwest and southeast crop districts, where soybean planting progress
was pegged at 23% and 35%, respectively.
The Consumer Can And Will Pay More
By Michael Swanson - Wells Fargo Economics
With high energy prices, food prices will rise faster than the general
cost of living, and the consumer will need to reallocate more of their
budget for food. They won’t like it, but they can and will deal with
it. For the American consumer, 2006 marked the bottom of the cheap food
era (for now). Consumers spent 12.6% of total spending on food (at home
7% and away 5.6%). This also coincided with the era of cheap gasoline.
The consumer enjoyed it, and in most cases they didn’t even think
about it.
The retail price of food remains below the general cost of living on an
indexed basis. Only beef prices roughly equal the general cost of
living index. Pork prices remain stuck at levels similar to 2004.
Considering the increases in cost of production since 2004, the current
profit losses in pork production make financial sense.
The current outlook for record high energy prices based on Southeast
Asian demand growth, OPEC supply restrictions and U.S. environmental
policy imply record high agricultural commodity prices. Both the cost
of production and alternative value of biofuels will support high and
highly volatile grain prices. Without a significant drop in corn and
soybean prices, the cost of protein production will continue to
increase. Ultimately, the consumer ends up paying for the higher priced
protein.
Over time, the consumer will make both substitution and total demand
adjustments based on relative and absolute prices. If retail poultry
and pork “close the gap” on beef, they will see their relative price
advantage.
Other News That Can
Impact Corn, Soybean Prices
Shrinking Corn Supply Shown In Today's WASDE Report
By Melvin Brees, University of Missouri Agricultural Economist
Today’s USDA World Agricultural Supply and Demand Estimates (WASDE)
project the lowest corn ending stocks since 1995-1996. Soybean supplies
will also remain tight, but wheat carryover is expected to increase.
Forecast 2008 corn yields were slashed 5 bu./acre from last month’s
estimate due to slow planting progress, delayed emergence and persistent
heavy rainfall in the Corn Belt. Acreage estimates were unchanged and
the expected 2008 average corn yield of 148.9 bu./acre results in 11.735
billion bushels of production. Old-crop export estimates were reduced by
50 million bushels, which resulted in a like increase in 2008-2009
beginning stocks (1.433 billion bushels). Total 2008-2009 corn supplies
are expected to be 13.183 billion bushels. This is 340 million bushels
less than last month’s estimate.
Ethanol use was left unchanged from last month at 4 billion bushels, up
1 billion bushels from 2007-2008. Higher prices are expected to reduce
new crop feed use by 1 billion bushels. However, some of this lower
feed use will be offset by increased availability of distiller’s
grains from ethanol production, increased wheat feeding and small
increases in other feed grains. The net result of the current
projections is 2008-2009 corn carryover of only 673 million bushels,
down 90 million from the June estimate. World corn 2008-2009 ending
stocks are expected to remain tight at 103.29 mmt, down from the
previous year’s 121.09 mmt.
New-crop corn price forecasts were increased by 30 cents and are now
expected to range from $5.30-6.30.
Old-crop (2007-2008) soybean export projections were increased by 20
million bushels, resulting in lower ending stocks of only 125 million
bushels. No changes were made to 2008-2009 production estimates and the
only adjustment to new crop use was 10 million bushels reduction in
crush. In spite of increased acreage and production, the net result of
these changes is projected 2008-2009 ending stocks of 175 million
bushels, down from last month’s estimate of 185 million bushels and up
only 50 million bushels from 2007-2008.
USDA’s first look at 2008-2009 world soybean supply/demand expects
increased production in Argentina, Brazil and China, as well as in the
U.S. However, strong demand is expected to limit the increase in world
carryover, which is projected to be 50.41 mmt compared with the current
year’s 49.26 mmt. New-crop soybean price forecasts were increased 50
cents and are now expected to range from $11-12.50.
USDA increased expected average 2008 wheat yields from 42.5 bu./acre to
43.2 bu./acre, resulting in total production of 2.432 billion bushels.
Increased new-crop production and somewhat lower use projections results
in increased ending stocks from 254 million bushel (2007-2008) to 487
million bushels (2008-2009). Wheat price forecasts are increased by
fifteen-cents and expected to range from $6.75- 8.25.
Export Projections Increase
Secretary Of Agriculture Ed Schafer has announced an updated quarterly
forecast for U.S. agricultural exports -- expected to reach a record
$108.5 billion for fiscal year 2008. The upward revision is a $7.5
billion increase from February's previous record forecast and $26.5
billion above the final 2007 exports. Grains and animal products account
for two-thirds of the export gains.
"America's increased export volume in bulk commodities like corn, other
animal feeds and soybeans make agriculture the bright spot in the
overall balance of trade," says Schafer. "U.S. producers are on track to
export a record 63 million tons of corn, and set new export volume and
value records for pork. Export volumes and values are also up for many
horticultural products with sales growth to Canada and the European
Union being exceptionally strong."
Asia continues to be an important growth market for U.S. agricultural
commodities. U.S. exports to China are forecast to reach a record
$10.5 billion, up almost $3.4 billion from 2007 levels. Canada and
Mexico remain the United States' top two markets worldwide with exports
forecast to reach $30.5 billion in 2008 -- some $5 billion above
2007.
The summary and full report of USDA's Outlook for U.S. Agricultural
Trade may be accessed at www.ers.usda.gov or www.fas.usda.gov. The next quarterly
report will be issued at the end of August.
Iowa Opens China Trade Office
The (Cedar Rapids, IA) Gazette reports that an Iowa trade
mission to China, led by Gov. Chet Culver, hopes to build on existing
relations with the major buyer of U.S. agricultural products. In
addition to expanding Iowa's agricultural trade with China, Culver sees
opportunities to create more jobs in Iowa, especially in the renewable
energy sector.
"China presents a lot of very exciting opportunities for Iowa," says
Culver. To facilitate that, the governor opened the Iowa Department of
Economic Development's first office in Beijing , China. There will be
one fulltime staffer from Iowa in addition to staffers experienced in
China trade. "It shows that Iowa is very serious about trade (and) job
creation back home that could result from that trade," says Culver.
"It's a place of entry, if you will, to show that we're serious."
Kirk Leeds of the Iowa Soybean Association says the trip and discussions
with trade and agricultural officials have gone well. "China, of course,
is a very import market for Iowa soybean farmers and for the U.S.," he
says. As of May 1, China has imported more than 470 million bushels of
U.S. soybeans this year -- roughly equivalent to Iowa's entire bean
crop, he says.
The delegation is visiting China at a time when the Chinese economy is
booming and there is a real transition into a free-market economy,
according to the Department of Economic Development.
China Wants More U.S. Corn
The Asian nation, once self-sufficient when it comes to corn, will be
looking for more -- a lot more -- in the future, reports The (Peoria,
IL) Journal Star. "The demand for corn increases with the rise of
the demand for meat," says Scott Rozelle, professor at Stanford
University and expert on Chinese agriculture.
The need for corn is not because China isn't growing plenty of its own.
With about 70 million acres in corn production, the country is second
only to the U.S., where 86 million acres are expected to be devoted to
corn this year. But the 148 million tons of corn China is expected to
produce from last October to September of this year is not enough for a
country with 1.2 billion people. While rice remains the chief Chinese
crop with 186 million tons, it's corn that China needs to feed the
nation's rising demand for meat.
"Except for 1995, China has been totally self-sufficient in corn and, in
the past decade, has been a major exporter -- mostly to Asian
countries," says Rozelle. Right now the corn list is headed by Japan and
Mexico but Rozelle expects China to be a major importer of corn along
with soybeans in the future.
"The challenge now for the United States is to wait patiently and
prepare to have approvals for all of the U.S. biotech corn types," he
says.
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In addition, China buys almost half of all the beans American farmers
export. Keeping markets open will be important in the future. "If the
U.S. bans imports of Chinese imports like apples, pears and peaches,
China could retaliate and keep U.S. corn out of the market," says
Rozelle.
Conservation Reserve Program Signups May Not Impact Feed Grain
Demand
Sign-ups for the Conservation Reserve Program (CRP) which began June 2,
may not have an impact on feed grain demand, says Darrel Good, U of I
Extension marketing specialist. "Clues about the potential impact of the
CRP's critical feed initiative on feed grain consumption will come from
the number of acres enrolled," says Good. "USDA's September 2008 and
December 2008 Grain Stocks reports will provide an opportunity to
uncover the impact in the calculation of quarterly domestic grain
disappearance.
"Our guess is that the impact will be small enough that it will be
difficult to detect, lost in the noise of the annual variation of
quarterly feed consumption. If so, this program has little implications
for grain prices."
U of I Extension says Good's comments came as he reviewed the CRP, a
program that allows participants with certain established vegetative
cover to request a voluntary modification to contracts to utilize
certain land, or lease the privilege to others, for critical feed use
including haying or grazing. "The critical feed-use initiative is
designed to augment the livestock feed supply during a period of high
prices for field crops," he says. "There are a number of conditions for
qualification for the program."
Some of these conditions include: only CRP acreage that is fully
established and devoted to designated practices qualify; no more than
50% of the eligible CRP acreage may be used for haying; grazing is
allowed at 75% of Natural Resources Conservation Service recommended
stocking rate; and the critical feed use is available only in 2008 for
the period after the primary nesting season ends through Nov. 10, 2008.
To view this article online: www.aces.uiuc.edu/news/stories/news4409.html.
CFTC Probing Commodity Markets
The Associated Press reports that the Commodity Futures Trading
Commission (CFTC) has taken the unusual step of disclosing an
investigation into the possible manipulation of commodity prices. This
time, the CFTC said it has been conducting an investigation of the
February/March price run-up in cotton futures after farmers, investors
and other market participants expressed concerns at a meeting in April
that explored the disconnect between futures and cash prices, the impact
of higher margin requirements and the role of speculators and commodity
index traders.
The commission says it was taking the "extraordinary step of disclosing
this investigation because of today's unprecedented market conditions."
That’s the exact language the CFTC used recently when publicizing a
six-month-old investigation of potential price manipulation and abuses
in the way crude oil is purchased, shipped, stored and traded
nationwide, reports the AP.
Congress is increasingly pressuring the commission to explore the
reasons behind soaring fuel, food and other commodity prices. In rolling
out initiatives for agricultural markets, the CFTC repeated its
announcement that it will propose requiring more detailed information
from funds designed to mimic the price of crude oil and other futures.
The surge in popularity of commodity index funds and unregulated
over-the-counter swaps has been blamed by some analysts and lawmakers
for artificially boosting the prices of oil, gasoline, corn and other
commodities.
USDA: Biofuels Not To Blame For Higher Food Prices
There is no evidence that the nation’s growing demand for biofuels and
the crops needed to produce them are the culprits behind higher food
prices at home or abroad, according to USDA’s top official. Farm
Press reports that while peaking at a food and fuel media briefing,
Secretary of Agriculture Ed Schafer acknowledged that higher demand for
corn for ethanol and soybeans for biodiesel “has led to higher prices
for those crops over the past couple of years.
But we do not have a one-to-one relationship between higher prices for
those commodities and what consumers are paying for foods at the retail
level. There are many factors at work.” Schafer says USDA economists
estimate “that only 3% of the more than 40% increase in world food
prices this year is due to the increased demand on corn for ethanol.”
In the U.S., the year-to-year increase in food prices for U.S. consumers
was much smaller than in the rest of the world, at 4%, and 1.5% higher
than the average annual increase of 2.5%. Schafer does expect consumer
prices to increase 5% this year.
Meanwhile oil and food commodity prices are up almost 70% and almost
50%, respectively. USDA chief economist Joe Glauber says only 20% of
what consumers pay for food items can be attributed to the farm value of
the underlying commodities. He believes much of the cost of food items
comes from “labor costs, advertising, energy costs and other factors.
“We don’t want to do something here that’s politically expedient,
that sounds good, that makes headlines or 30-second sound bytes,” he
says. “We want to make sure that what we do here doesn’t suppress
production, but increases production so that we can feed people across
the world.
“The policy choices we’ve made on biofuels will deliver long-term
benefits. But we also have to recognize that there may be some
short-term costs or dislocations involved, and we have to consider those
costs in the light of the ultimate benefits that we hope to secure for
the American people.”
Schafer notes that according to the International Energy Agency,
biofuels production available to the U.S. and European markets over the
last three years “has cut the consumption of crude oil by 1 million
barrels a day. At today’s prices, that’s a savings of more than $120
million/day.
USDA Analysis Understates Impact Of Ethanol Boom On Food Prices,
Economist Says
An economist at FarmEcon LLC says USDA figures on the impact of biofuels
on food prices is incorrect. "Most objective observers feel that the
demand from the biofuels sector accounts for anywhere from one-third to
two-thirds of the explosion in food prices, not the 2-3% suggested by
Sec. Schafer," says Thomas Elam, president of FarmEcon LLC.
"Crops that used to be grown for food production are now being priced at
their value as a fuel supplement, with unpredictable and very negative
consequences for the food economy. The costs of those crops to the U.S.
food production system are also being significantly increased by federal
biofuels policy."
In an analysis commissioned by the National Chicken Council, Elam says
Schafer's "2-3%" estimate echoes the comments of Edward P. Lazear,
chairman and, at this time, the only member of President Bush's Council
of Economic Advisers. Lazear told a Senate committee last month that
corn-based ethanol production accounts for only 1.2% of the 43% run-up
in global food prices, or about 3% of the increase in the past year.
However, the analysis cited by Lazear counts only corn that is directly
consumed by humans, a relatively small part of the overall usage of
corn, Elam noted. By far the most corn in the U.S. and in other
countries is used in livestock and poultry feed and is thus consumed by
humans indirectly in the form of meat, poultry, eggs and dairy products.
Midwest Governors To EPA: Uphold The Renewable Fuels Standard
A nonpartisan organization that brings together the governors of a dozen
states to work together on issues of significance to the Midwest has
called on the U.S. Environmental Protection Agency (EPA) to uphold the
“new and higher” renewable fuels standard.
In its letter to EPA Administrator Stephen Johnson, the Midwestern
Governors Association pointed out that granting a waiver would be
contrary to your agency’s mission to protect human health and the
environment. “The blame placed on ethanol for higher food prices is
misguided,” the governors wrote.
“Higher food prices are the result of many factors, including rising
transportation and production costs due to record oil prices, increased
demand for grains and meat from developing countries, increased
speculator investment and influence in all commodities markets, and
extended global drought. As a result, all food commodity prices are
high, not just the price of corn.”
States represented by the Midwestern Governors Association are Illinois,
Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North
Dakota, Ohio, South Dakota and Wisconsin.
The National Corn Growers Association (NCGA) welcomed the letter as
further evidence that many leaders recognize the importance of corn
ethanol and have rejected the idea that ethanol has a significant impact
on food prices or world hunger.
“We appreciate the governors’ leadership and support for the
renewable fuels standard,” said NCGA President Ron Litterer. “We are
heartened that they recognize the economic and environmental benefits
that the ethanol industry offers, and its importance for helping
strengthen energy independence and security.”
Value Of World Biofuel Market Expected To Grow Over 12.3% By 2017
Soyatech reports that Research and Markets has announced the
addition of Global Biofuel Market Analysis to its offering.
Decreasing oil production from almost all the oil reserves, rising
energy consumption and environmental issues are attracting the world
towards renewable energy sources, particularly biofuels, says Global
Biofuel Market Analysis.
The future of the biofuel industry looks promising, especially as the
local governments are taking initiatives to promote alternative fuel to
meet the targets; e.g., the U.S. pledged to nearly double ethanol
production by 2012, and the European Community recently announced that
biofuel will meet 10% of their transportation fuel needs by 2020.
The report provides an updated and detailed overview of the world
biofuel market. It rationally examines the emerging trends in the
worldwide biofuel industry and provides exclusive forecasts and
region-wise snapshots of different product categories across the world,
with their future markets. It also gives an overview on the development
of new technologies and biofuel plants (online and/or under-construction
during 2007 and 2008).
In the analysis’ findings: the value of the world’s biofuel market
is expected to grow at rate of more than 12.3% from 2007 to 2017; global
ethanol market (production) is expected to reach around 27,000 million
gallons by the end of 2014; the global biodiesel industry is projected
to grow and touch around 3,900 million gallons by 2014; U.S. ethanol
production is expected to dominate the global market; however, increased
corn prices will be a matter of concern for ethanol production in the
future. For more information, visit www.researchandmarkets.com/reports/c92979
New
Agribusiness Job Web Site
Penton Media’s Ag Group, of which Corn & Soybean
Digest is a member, has launched a new targeted online career center.
Agribizjobs.com – www.agribizjobs.com/home/
offers industry employers a growing, qualified audience of ag
professionals and industry jobseekers with agribusiness-specific,
categorized job listings. It’s a joint effort by Corn & Soybean
Digest and its sister publications, BEEF, Farm Industry News,
Farm Press, Hay & Forage Grower and National Hog Farmer.
At www.agribizjobs.com/home/
employers can view complete but anonymous resumes for free, and pay only
to connect with a job-seeker. Job-seekers can post resumes in
ag-specific employment categories and sign up to receive e-mail alerts
when new positions are posted that match their search criteria. The
site’s Anonymous Resume Bank enables both active and passive
jobseekers to list their experience and qualifications in a protected
environment, allowing them to stay connected to the employment market
while maintaining full control of their confidential information.
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Updated Marketing,
Farm Bill, Biofuels, Other News At The Corn & Soybean Digest Web
Site
Follow the latest analysis of corn and soybean futures
prices and market trends at www.cornandsoybeandigest.com
our flagship Web site. There’s information on the farm bill, market
commentary and lots of other news you can use to better manage your
farm.
If your latest issue of Corn & Soybean Digest magazine isn’t
handy, you can access it and past issues to revisit subjects that can
impact your corn and soybean production and marketing. The site's news
from across the Corn Belt, other corn- and soybean-production areas and
the worldwide markets for corn and beans can help you stay on top of
events that can help or hurt prices.
Go to www.cornandsoybeandigest.com
now and stay up-to-the-minute on the timeliest analysis and other
information on corn and soybean production and prices.
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Other E-Newsletters From Corn & Soybean Digest
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Check them out at subscribe.cornandsoybeandigest.com/subscribe.cfm?tc=NLSUB.
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