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Logan
Hawkes
4/23/08
Crop News Weekly
Be it the weather or some other contributing
factor, U.S. corn crop planting is behind schedule. USDA's latest weekly
crop report indicates that while corn planting doubled over last week's
numbers -- up from 2% to 4% -- it still lags far behind last year's rate
of 17% for the same time period. Weather is, of course, the big culprit
to the sluggish planting schedule and while conditions across much of
the nation are expected to improve slightly, more bad weather is
expected by the weekend. The most significant planting delays are in the
mid-South and southern Corn Belt, according to Monday's report. In other
news this week, high gasoline prices are hurting Americans’
pocketbooks, but farmers are helping them. Fuel could cost as much as 10
cents more a gallon if it were not routinely blended with ethanol. Also
this week, there was a time when you could barely think of a weed
control program for soybeans that did not include starting off with some
kind of residual program. Times have changed along with methods for weed
control, but there may be a trend to return to the old ways. Elsewhere
in the news, any momentum towards finishing a farm bill is at a
snail’s pace. Even with the impetus of an increasingly frustrated
agricultural base, last Friday’s farm bill conference largely focused
on the merits of taxes and accounting methods. The meeting did not go
well. And finally, a rise in the projected use of corn for export and as
livestock feed provides increased room for optimism about corn acreage
says the National Corn Growers Association.
You'll find these stories and more in this issue of Crop News
Weekly. Happy reading.
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Farm
bill conference tied up in tax accounting
Any momentum towards finishing a farm bill is at a
snail’s pace. Even with the impetus of an increasingly frustrated
agricultural base, last Friday’s farm bill conference largely focused
on the merits of taxes and accounting methods. The meeting did not go
well. Before the April 18 conference, the House and Senate had once
again swapped farm bill proposals. After weeks of back-and-forth, the
sticking point remains the need for some $10 billion in extra funding
including $2.5 billion in tax breaks the Senate insists on. President
Bush reluctantly signed another extension of current law through April
25 to allow Congress to finish the near $300 billion farm bill. -
David Bennett, Farm Press Editorial Staff
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ADVERTISEMENT
 According to Chuck
Foresman, manager of weed resistance strategies for Syngenta, some
experts expect the number of U.S. crop acres with glyphosate-resistant
weeds to double this year to 10 million. There are currently nine weeds
that have been confirmed resistant to glyphosate in the U.S., including
Palmer amaranth, giant ragweed, common ragweed, waterhemp, Johnsongrass
and marestail (horseweed). The Syngenta Resistance Fighter™
Solutions Module helps you find all the right products to fight
resistance in your fields. www.resistancefighter.com
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Ethanol
production saving consumers money
High gasoline prices are hurting Americans’
pocketbooks, but farmers are helping them. Fuel could cost as much as 10
cents more a gallon if it were not routinely blended with ethanol,
according to Terry Francl, senior economist for the American Farm Bureau
Federation. In fact, Francl said, U.S. consumers save up to $14 billion
in gasoline costs as a result of increased ethanol use. “In this day
when consumers are monitoring gasoline prices in order to find the best
deal, it’s good news that we are benefiting from the use of ethanol as
both an oxygenate replacement and a gasoline substitute,” said Tony
Banks, a commodity and marketing specialist for the Virginia Farm Bureau
Federation.
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How
much is ethanol saving Missourians?
A study released today confirms Missouri drivers are
saving money at the pump thanks to ethanol. The research results were
announced at a press conference in the state capitol and concluded that
drivers in Missouri are expected to save an average of 9.8¢/gal. due to
the 10% ethanol standard that went into effect Jan. 1, 2008. According
to the Energy Information Administration (EIA), Missouri drivers used
over 2.9 billion gallons of gasoline in 2007. With nearly a dime a
gallon difference, using ethanol-blended fuels translates to statewide
savings of more than $285 million dollars in 2008. The study, "Impact of
Ethanol on Retail Gasoline Prices in Missouri," was performed by John
Urbanchuk with the economic consulting service LECG and paid for by the
Missouri Corn Merchandising Council (MCMC). - The Corn & Soybean
Digest
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Residual
herbicides for soybeans making comeback
There was a time when you could barely think of a weed
control program for soybeans that did not include starting off with some
kind of residual program. When I first got into the ag chemical
business, our product of choice was Squadron (Scepter + Prowl). I do not
think that one even exists anymore. Especially in Arkansas, Roundup
(glyphosate) was badly needed when it came on the scene. Weeds like
common cocklebur and pigweed had become ALS-resistant. Other weeds had
undergone species shifts to more difficult weeds like balloonvine,
teaweed, morningglories, sesbania and nutsedge. Roundup Ready saved the
day and is still saving the day for many growers. As with any technology
that is relied on too much, weed resistance has now caused glyphosate to
lose some of its luster, and it cannot be relied on as a standalone
program any longer. - Bob Scott, Arkansas Extension Weed
Specialist
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Three
pricing alternatives for farmers
Grain buyers and elevators, like producers, can’t
afford to take all the risk and some have stopped offering cash-forward
contracts to price new-crop corn, soybeans and wheat, says Chris Hurt, a
Purdue University agricultural economist. Because wet spring weather is
delaying the start of Midwest corn planting, Hurt expects to see some
good pricing opportunities early this spring for corn and says farmers
need to be thinking about new-crop pricing alternatives. - The Corn &
Soybean Digest
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responses, Quadris goes beyond disease control to help improve Plant
Performance™. As shown in research trials and field tests conducted
in your area, this can lead to an average yield increase of 5.5 bu/A.
For more information on Quadris fungicide, please visit www.quadrissoybeans.com.
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Remember
basics of soybean production
Many farmers in the Southeast have grown soybeans in
the past, but they haven’t grown them in the recent past. All the more
reason, says Auburn University Extension soybean specialist Dennis
Delaney, that they review the production basics. “In Alabama, we went
from about 200,000 acres of soybeans down to about 150,000 acres when
Asian soybean rust first hit. But we’re gradually climbing back up,”
says Delaney. The limitation on soybean planting this year, particularly
this year, has been the availability of seed, he adds. “Those high
temperatures we experienced last year also were seen throughout the
Midwest, killing the germination and the vigor of a lot of soybean seed
grown under irrigation. Arkansas, Missouri and other states had
100-degree temperatures just as we did in 2007,” he says. - Paul L.
Hollis, Farm Press Editorial Staff
|
Custom
farming agreements
An alternative to leasing farmland is a custom farming
agreement. In a typical custom farming agreement, the custom operator
agrees to perform all the machine operations on the owner’s land in
exchange for a set fee or rate. The landowner pays for all seed,
fertilizer, chemicals, crop insurance, and other input costs; receives
the all grain produced and all eligible farm program payments on the
land; and is responsible to store and market the grain. - Kent
Thiesse, The Corn & Soybean Digest
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China's
grain crop forecast higher
China’s production of major grains may rise in 2008
due to higher yields, despite a reduction in planted area, the China
National Grain and Oils Information Center (CNGOIC) said on Monday.
China's corn plantings are estimated at 27.4 million hectares (67.7
million acres) in 2008, down 2.32% from 28.05 million hectares a year
earlier, as farmers shift land to soybeans due to higher profits,
according to a report issued by the grain think tank. - Richard
Brock, The Corn & Soybean Digest
|
NCGA
hails Japan's acceptance of biotech corn
It’s great news for Japanese consumers and U.S. corn
growers that Japan is turning more to biotech corn to meet growing food
needs, the National Corn Growers Association (NCGA) says. Bloomberg News
Service reported recently that Japan's largest buyer of corn for use in
food, Nihon Shokuhin Kako, is importing biotech corn for the first time
this year. “We have always believed that biotech corn is a safe
product, and an integral part of reaching the production levels needed
to feed and fuel the world,” says Martin Barbre, chairman of NCGA’s
biotechnology working group. ”Japan is our largest export market for
both conventional corn as well as non-biotech corn. This announcement is
interesting because it indicates a Japanese processor is willing
introduce biotech products into the food ingredient market, despite
likely labeling requirements.” - The Corn & Soybean Digest
|
NCGA
sees more reason for optimism on corn acres
A rise in the projected use of corn for export and as
livestock feed provides increased room for optimism about corn acreage,
the National Corn Growers Association (NCGA) said recently. “Many
analysts expect growers to increase the number of acres planted to corn,
beyond the 86 million estimated last month by the USDA,” says NCGA
Chairman Ken McCauley. “We’re already looking at the second-highest
acreage in over 50 years and market fundamentals are strongly signaling
for growers to consider planting more corn to meet increasing demand.”
- The Corn & Soybean Digest
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Wide
margins for 2008 corn profits
Corn appears to be more profitable than soybeans in
2008 by wider margins than in recent years, according to a new
University of Illinois (U of I) Extension study. "Projections for 2008
indicate that the differences between corn and soybeans may be even
wider than in 2006 and 2007," says Gary Schnitkey, U of I Extension farm
financial management specialist who prepared the study with colleague
Dale Lattz. "Corn is projected to be more profitable in all regions of
Illinois. If farmers have acres that could swing to other crop, corn
currently looks like the more attractive alternative." - The Corn &
Soybean Digest
|
Rising
oil costs: Force in food and fuel argument
A study released recently by Texas A&M’s
Agricultural and Food Policy Center illustrates corn prices have had
little to do with rising food costs, the National Corn Growers
Association (NCGA) notes. The report, “The Effects of Ethanol on Texas
Food and Fuel” also determined that relaxing the renewable fuels
standard (RFS) would not result in lower corn prices for livestock and
poultry feeders. The study shows that prices of household groceries,
such as bread, eggs and milk are unrelated to ethanol or corn prices.
The study points to higher oil prices as the underlying force impacting
consumer prices and agriculture. The report was issued in response to
mounting questions about the impact of increased ethanol production on
the Texas agriculture sector and overall economy. - The Corn &
Soybean Digest
|
First
Quarter 2008 in Review
Agriculture Road Warrior
Dave Kohl writes: "The first quarter of 2008 is
the tale of two economies. The general economy is moving into recession.
The breadth and depth of the recession will be dependent upon converging
events and factors. Businesses that export goods are doing quite well;
however, this may be short lived if the global economy falls into a
downturn. Consumers are reducing spending, particularly at the retail
level and on large durable goods. The housing crisis is heating up in
many states. People with buying power or debt capacity are sitting on
the sidelines waiting for further devaluation of housing assets. The Sun
Belt and West Coast are very vulnerable for further correction." -
The Corn & Soybean Digest
|
Perfect
Storm: Skyrocketing food prices
Rioting in Haiti in which mobs attacked the
presidential palace and several people were killed; violent protests in
Egypt; a strike in Jordan; demonstrations in Bolivia, Indonesia,
Mozambique; and unrest in a score of other countries — all stemming
from skyrocketing food prices and shortages. In the Philippines, where
the price of rice has doubled from a year ago as a result of tight world
supplies, the Department of Justice has threatened traders who hoard
rice with charges that can carry a life sentence. North Korea is faced
with the “worst ever” food crisis as a result of last year’s
severe floods that destroyed 11 percent of the country’s crops. -
Hembree Brandon, Farm Press Editorial Staff
|
House
approves short farm bill extension
The new farm bill’s conference committee met twice
Wednesday afternoon and nearly completed a new forestry title. The farm
bill is slowly taking shape, but slowly won’t get the job done in time
to beat Friday’s deadline. Members of the House Ways and Means
Committee and the Senate Finance Committee continued to meet separately
in order to get funding issues resolved. Realizing the conference
wouldn’t meet deadline, on Wednesday the House passed a short-term
extension of current law. The Senate is also prepared to ask for another
week to complete the bill. However, that guarantees nothing because, for
weeks, the White House has repeatedly stated reluctance for any further
short extensions. - David Bennett, Farm Press Editorial Staff
|
Big
grain crop may test infrastructure
Wheat acreage is expected to increase in 2008 in some
Southeastern states by more than 25 percent from 2006/2007 planting and
harvest. Soybeans, especially in double-crop situations with wheat, are
also expected to increase, as is corn at over $5 per bushel. Where all
these acres are coming from is a good question. If growers have a good
cropping season, where all the grain is going may be an even better
question. Even average yields of wheat, corn and soybeans would stretch
agriculture’s transportation system to the limits — as was seen in
2007. A banner grain crop yield may just push it over the brink. -
Roy Roberson, Farm Press Editorial Staff
|
U.S.
corn crop needs 3 million more acres
U.S. corn producers need to plant about 89 million
acres this spring to avoid exacerbating an already tight supply
situation, according to Alan Conrad, with the Zaner Group, speaking at
the Minneapolis Grain Exchange press briefing on the April 9 World
Agricultural Supply and Demand Estimates. “The trade really needs more
than 86 million acres (projected by USDA’s March 31 Prospective
Plantings Report) this year. The usage numbers and a trend line yield of
154 bushels could leave us with a carryout of 650 million bushels next
year, which does not allow for any problems or errors this coming
summer. “It tells me we need more corn and the volatility in the corn
market will continue. I think we need a minimum of 3 million more acres
of corn.” - Elton Robinson, Farm Press Editorial Staff
|
Move
over duct tape
Rescue Tape may well be the new duct tape. It is a
self-fusing silicone repair product that works well for emergencies
while also handling all-purpose repairs. You simply stretch Rescue Tape
and wrap it around any project onto itself, and it will quickly produce
a permanent, airtight, watertight seal. The tape may be used on leaking
hoses, electrical wiring, tool handles, or as a shrink wrap. Learn more
about Rescue Tape and other new products. - Farm Industry News
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Conducting
office business in the field
When Mark Hinze began operating a computer-based
office out of his pickup truck in the mid-1980s, he was among the first
agronomists to adapt delicate computer electronics to the harsh field
environment. After more than two decades of trial and error, he has
honed his office into a system that allows him to capture scouting data
and print reports for customers in real time, with a minimum of fuss and
breakdowns. - David Hest, Apply
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Corn & Soybean Digest
Market News
Richard A. Brock
Check out the latest corn and soybean market advice from
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