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Logan
Hawkes
10/22/08
Crop News Weekly
Harvest is picking up across the Midwest with
farmers reporting progress on soybeans, and even corn considered too wet
to harvest in recent weeks is getting attention. Weather problems
continue to plague some harvest efforts while other areas are lucky
enough to keep the equipment rolling in a nonstop effort to finish off
the season. A random check with First Harvest test plot managers across
the Midwest indicate harvest results are extremely variable, but a
surprising number of early harvest reports indicate a fair to good yield
range on both corn and soybeans. You can keep up with the First Harvest
reports each week on the Corn & Soybean Digest Web site.
In the top of the news this week, with national elections looming on the
near horizon, Farm Press editors offer up a pair of articles to help you
wade through all the muck and muddle of candidate rhetoric and get down
to the real issues about agriculture and just where the candidates stand
on the them. Check this out before heading to the polls. Also this week,
this country might be better run if all the members of Congress, those
in high government office, corporate CEOs, and others in exalted
positions would do weekly grocery shopping. Hembree Brandon takes you
through the steps below. Elsewhere, the rapid rise in corn and soybean
commodity prices in the past two years – and the resulting projected
increase in gross crop income per acre for the 2008 and 2009 crop years
– has caused many landlords to consider sharp increases in cash rental
rates on rented farmland for 2009. On the national front, there has been
some changes in USDA's Crop Prodution Report. USDA surprised the soybean
market by raising its estimate of U.S. production by 49 million bushels
even as it further reduced in its national soybean yield estimate. The
corn market also got bad news from Friday’s monthly Crop Production
Report as USDA raised its corn production estimate by 124 million
bushels from September. Finally this week, does the economic crisis have
you concerned? National Corn Growers Association Chairman Ron Litterer
and other leaders in agricultural economics talked about the impact of
the current economic crisis on the farming sector in a webinar last
week. Get the results below.
You'll find these stories and more in this issue of Crop News
Weekly. Happy reading.
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Candidates
display opposite views on farm programs
Agriculture hasn’t exactly been on the front burner
of the 2008 presidential elections. If John McCain or Barack Obama
mentioned the subject during either of their first two debates, it was
only a fleeting reference. Fortunately, the presidential campaigns have
provided a considerable amount of information about where the candidates
stand on a number of issues. That and their previous public statements
provide at least some insight into what either might do on farm issues
once he takes office Jan. 20. John McCain has left little doubt about
where he stands on the issue of farm spending. From his frequent
criticism of farm programs as “pork barrel politics” to former
Agriculture Secretary John Block’s oft-repeated characterization of
McCain as a “tightwad,” McCain has carved out a reputation as a
curmudgeon when it comes to farm bills. - Forrest Laws, Farm Press
Editorial Staff
(To read the complete article, click on the headline above)
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Ethanol
in the Presidential Campaign
Ethanol and renewable fuels have received attention in
this year’s presidential debates and in the campaign. Specifically,
the assertion has been made that one way to balance the federal budget
and help solve the economic crisis is to eliminate the tax incentives
that have helped to build America’s domestic renewable fuels industry.
Such an assertion fails to account for ethanol’s role in reducing our
dependence on imported oil, lowering gas prices at the pump, stimulating
investment in rural America, creating millions of green jobs, and
lowering federal farm program costs. The claim that cutting these
programs will save taxpayer dollars is wrong. Federal incentives for
ethanol generate revenue for federal and state governments and are
saving American consumers money. (To read the complete article, click
on the headline above)
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Leaders
could do with some shopping trips
This country might be better run if all the members of
Congress, those in high government office, corporate CEOs, and others in
exalted positions would do weekly grocery shopping. When one dines at
fine restaurants, either on an expense account or with a lobbyist
picking up the tab, or has cooks or hired help to do the grocery
shopping for the occasional home meal or entertainment, one tends to be
divorced from the realities of escalating costs that the “average
American” contends with. We all recall how George Bush The First,
during a photo-op at a supermarket, was amazed by checkout scanners —
he hadn’t a clue that the technology even existed; heaven knows if
he’d ever set foot in a grocery store to actually shop for something.
Granted, it’d be cost prohibitive (hordes of security people,
vehicles, etc.) for a president to go to the local Safeway for bread,
eggs, milk, TP, and a six-pack of Bud, but the experience could be
eye-opening for all those who develop policy, impose taxes, set prices,
and otherwise make decisions that affect the lives of the general
populace. - Hembree Brandon, Farm Press Editorial Staff
(To read the complete article, click on the headline above)
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Flexible
lease agreements, FSA payments
The rapid rise in corn and soybean commodity prices in
the past two years – and the resulting projected increase in gross
crop income per acre for the 2008 and 2009 crop years – has caused
many landlords to consider sharp increases in cash rental rates on
rented farmland for 2009. Many producers are concerned that the
favorable crop prices may not last long term, and that the gross income
per acre in future years may not be high enough to justify the higher
cash rental rates being implemented for the 2009 crop year and beyond.
- Kent Thiesse, Corn & Soybean Digest
(To read the complete article, click on the headline above)
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USDA
raises corn and soybean crops
USDA surprised the soybean market on Friday by raising
its estimate of U.S. production by 49 million bushels even as it further
reduced in its national soybean yield estimate. The corn market also got
bad news from Friday’s monthly Crop Production Report as USDA raised
its corn production estimate by 124 million bushels from September.
USDA’s corn and soybean crop estimates were both near the high end of
trade expectations. USDA pegged U.S. soybean production at 2.983 billion
bushels against trade estimates averaging 2.920 billion bushels in a
range from 2.847 billion to 3.001 billion. The new estimate is up 1.7%
from USDA’s September estimate of 2.934 billion bushels, and 11.5%
from last year’s revised 2.676-billion-bushel crop. - Richard
Brock, Corn & Soybean Digest
(To read the complete article, click on the headline above)
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NCGA,
others look at impact of current financial crisis
National Corn Growers Association Chairman Ron
Litterer and other leaders in agricultural economics talked about the
impact of the current economic crisis on the farming sector in a webinar
last week, held by AgriMarketing magazine. In his remarks, Litterer
discussed the impact of the crisis on demand for corn and the higher
input costs growers face. “Even before this crisis hit, growers have
been faced with higher operating capital requirements due to rising
input costs and marketing strategies,” Litterer says. “Analysts are
concerned about the impact of the crisis on demand for corn. With higher
production and lower demand, pricing can affect margins.” - Corn &
Soybean Digest
(To read the complete article, click on the headline above)
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Report
affirming potential of mid-range ethanol blends
The USDA and U.S. Department of Energy (DOE) recently
released a National Biofuels Action Plan, an interagency plan detailing
their collaborative efforts to accelerate the development of a
sustainable biofuels industry. In the plan, the agencies affirmed the
potential of mid-range ethanol blends such as E12, E15 and E20, saying
they “represent a critical pathway” to meet the president’s goal
of reducing petroleum-based gasoline usage by 20% in the next 10 years.
In coordination with the action plan, the DOE’s Oak Ridge National
Laboratory (ORNL) and National Renewable Energy Laboratory (NREL) with
Battelle Memorial Institute released an interim study detailing the
Effects of Intermediate Ethanol Blends on Legacy Vehicles and Small
Non-road Engines, affirming the potential for mid-range ethanol blends.
- Corn & Soybean Digest
(To read the complete article, click on the headline above)
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Grain
drying, storage costs up
Corn producers face a double-whammy this harvest
season, says Gary Schnitkey, a University of Illinois Extension farm
financial management specialist. "Commercial drying and storage charges
for grain will be higher in 2008 than in recent years," says Schnitkey.
"Moreover, corn will likely be harvested at higher moisture levels,
further increasing drying costs this season." Schnitkey's full report,
"Drying and Storage Costs in 2008: Comparing Alternatives with the Grain
Delivery Model" is available on U of I Extension's farmdoc Web site.
- Corn & Soybean Digest
(To read the complete article, click on the headline above)
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It's
happening today
Road Warrior Dave Kohl writes: "With my hectic
travel schedule, I am a Weather Channel fan because it allows me to
avoid some weather challenges, particularly with airlines. One of my
favorite series is “It Could Happen Tomorrow,” – a worst-case
scenario when weather events combine to create disaster. If one turns to
the economy, it appears the disaster is happening today. For many of you
who follow this column or have listened to me speak, I have discussed
the probabilities of a code green, code yellow and code red in the
economy, with code red being the potential disaster..." - Corn &
Soybean Digest
(To read the complete article, click on the headline above)
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Laser
technology speeds development of corn, soybeans
DuPont has unveiled an advanced technology the company
said will transform seed research and considerably speed up the
development of higher yielding corn and soybean varieties. DuPont
business Pioneer Hi-Bred introduced Laser-Assisted Seed Selection as the
newest tool in its Accelerated Yield Technology (AYT) toolbox. The
technology promises to increase the size and scope of the Pioneer
breeding program five-fold in the next three years, said DuPont.
Laser-Assisted Seed Selection uses a 120-watt carbon dioxide laser to
score a small slice from a seed to capture its genetic information while
maintaining the seed’s viability for planting. Molecular breeding
techniques are used to identify desirable genetic combinations within
each individual scored seed slice. Seeds identified to have superior
genetics are selected for planting and advancement through the Pioneer
research program. (To read the complete article, click on the
headline above)
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U.S.
harvest still lagging behind
Harvest is lagging behind in much of the United
States, but growers are starting to make some progress as good weather
days have outnumbered the bad ones. According to USDA’s crop progress
report for the week ending Oct. 12, 25 percent of the U.S. cotton crop
has been harvested, compared to 16 percent last week, 34 percent this
time last year and a 5-year average of 31 percent. Arkansas reports 38
percent harvested, compared to 60 percent last year. Louisiana reports
70 percent harvested, compared to 58 percent last year. Mississippi
reports 35 percent harvested, compared to 69 percent last year. Missouri
reports 37 percent harvested, compared to 76 percent last year.
Tennessee reports 42 percent harvested compared to 60 percent last year.
(To read the complete article, click on the headline above)
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Guidelines
developed for high-yielding beans
Average yields this year of 76 bushels per acre for
irrigated soybeans grown in south Georgia sound pretty darn good. But
they probably should have been even better. That’s the assessment of
retired University of Georgia Extension Soybean Specialist and Professor
Emeritus John Woodruff, who spearheaded a project this year to help
establish guidelines for 70-plus bushels per-acre soybeans when
including irrigation with production. “It wasn’t quite as good as we
thought it would be,” says Woodruff of plots located at the Sunbelt Ag
Expo site in Moultrie, Ga., and the Stripling Irrigation Research Park
in Camilla. “Overall, we had yields of 68 to 86 bushels per acre with
an average of 76 bushels per acre.” - Paul L. Hollis, Farm Press
Editorial Staff
(To read the complete article, click on the headline above)
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Contract
farming may reduce risks
A big question circulating among farmers these days
seems to be: Will I make enough money in 2008 to be able to afford the
risks involved in raising a crop in 2009. Collapses in the futures
market, with some bankers limiting loans to 30-60 days, has ramped up
the risk factor, especially for grain farmers. Add to marketing risks,
production costs have gone out the window with potash, nitrogen and
phosphate-based fertilizers leading the charge. These astronomical
increases alone will cause farmers to look closely at the fertility
requirements of various crops before making 2009 planting decisions.
- Roy Roberson, Farm Press Editorial Staff
(To read the complete article, click on the headline above)
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U.S.
grain production forecasts up across the board
The United States is more than able to continue
supplying global customers with the necessary grains, according to the
U.S Grains Council, the leading organization for export market
development for barley, corn, sorghum and co-products. Citing the
release of the USDA’s World Agricultural Supply and Demand Estimates
(WASDE), the Council said domestic corn, barley and sorghum production
forecasts are up, indicating bountiful harvests; sorghum exports are
also raised due to an increase of supplies. According to USGC President
and CEO Ken Hobbie, such news should serve as reassurance to global
customers who rely on the United States to meet their food and feed
demands. (To read the complete article, click on the headline
above)
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