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Showing posts from January, 2018

Is It Time to Sell New Crop Soybeans

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Is It Time to Sell New Crop Soybeans
Todd Hubbs, Agricultural Economist - University of Illinois
read farmdocDaily articleSoybean prices rallied over the last week on increased uncertainty in South American soybean production and a weaker dollar. Soybean prices in the 2017–18 marketing year are following a very similar pattern to last marketing year and brings to the forefront the prospects of 2018 soybean sales. New crop cash bid prices for harvest in central Illinois recently ranged between $9.70 and $9.80. A prudent marketing plan for soybeans this year may possess some selling of new crop soybeans in this price rally says Todd Hubbs from the University of Illinois.

Can Corn Prices Get Above the Current Range

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Can Corn Prices Get Above the Current Range
Todd Hubbs, Agricultural Economist - University of Illinois
read the farmdocDaily articleMarch corn futures continue to trade between $3.48 and $3.60. This has been the case since the release of the November USDA supply and demand tables. It continues today despite the bearish information contained in USDA’s end of year reports released January 12. Todd Hubbs says corn prices continue to stay in relatively narrow range, and that pattern may remain for the next several weeks.
Listen to Todd Hubbs discussion of his farmdocDaily article with Univesity of Illinois Farm Broadcaster Todd GleasonThe University of Illinois grain markets specialist says the present outlook projects ample corn supplies in 2018. This will likely keep corn prices in the current range until information on spring planting is released. USDA’s Prospective Plantings report is due March 29th. Hubbs says a typical price pattern suggests a price rally in late spring …

Bad Weather Rising

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Bad Weather Rising
Scott Irwin, Agricultural Economist - University of Illinois An agricultural economist at the University of Illinois is looking for a long-term recovery in the commodity markets. Todd Gleason has more on the reasons why.Commodity prices have been low since 2014…
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1:27 radio self-contained Commodity prices have been low since 2014, but the price of farmland has remained fairly strong. This is an indication thinks University of Illinois’ Scott Irwin that those buying farmland believe his contrarian view that prices will recover say to $4.00 for corn, $10.75 for soybeans, and $4.75 for all wheat. Irwin :20 …will restore profitability.Quote Summary - That’s at least one way to reconcile the firmness of land values. These long-run investors, whether they be farmers or outside investors, some reversions to averages like that which will restore profitability. Irwin says there are two reasons for commodity prices to increase. One of them is slow. It’s…

Returning to the New Era Corn Price Mid-Point

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Returning to the New Era Corn Price Mid-Point
Scott Irwin, Agricultural Economist - University of IllinoisThe agricultural economists at ILLINOIS have been championing a new era for grain prices since the rise of ethanol as a major player in the U.S corn market. Todd Gleason has more on why.Scott Irwin is an agricultural economist…
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2:57 radio self-contained Scott Irwin is an agricultural economist from the University of Illinois. He and his colleagues believe grain prices have achieved a new higher plateau era. An era that started just after Congress mandated renewable fuels be ramped up in the U.S. gasoline supply over a ten year period beginning in 2005. Irwin says it is the third such era.Irwin :25 …within a range during these eras.Quote Summary - The periods that I call eras of grain prices run from post World War II to 1973, from 1973 to 2006, and 2006 to the present. What we have found to date is that grain prices, unadjusted for inflation, tend to move wi…

MLK Day | A Chronology of Martin Luther King's Life

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MLK Day | A Chronology of Martin Luther King’s LifeThis is a self-contained audio file meant for air on the Martin Luther King, Jr. Holiday in the United States.

Looking for Anaplasmosis in Beef Cattle

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Looking for Anaplasmosis in Beef Cattle
Teresa Steckler, Commercial Agriculture - Illinois Extension
Loy Hosselton, Beef Cattle Producer & Veterinarian - Clay City, Illinois

Researchers at the University of Illinois are working with beef cattle producers in the southern third of the state to determine the prevalence of a disease that causes cows to become listless and die. Todd Gleason has more…

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A cattle disease called anaplasmosis has been ramping up in southern Illinois, or at least that’s the way it appears. In short, it causes severe anemia. Illinois Extension’s Teresa Steckler, with funding from the Illinois Beef Association, has been pulling blood samples from herds in the area. She’s trying to determine if the strain of anaplasmosis is one called Mississippi that can be controlled by a vaccine, or if it is something else.

Steckler :35 …guys are reporting to me, the big black horse flies.

Quote Summary - I’…

Corn, Soybeans, and Wheat Acres in Illinois

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Corn, Soybeans, and Wheat Acres in Illinois
Gary Schnitkey, Agricultural Economist - University of Illinois Since 1996, acreage changes in Illinois have been primarily shifting between corn and soybean. Todd Gleason has more…1:37 radio
1:45 radio self-contained Between 1996 and 2017, the sum of acres planted to corn, soybeans, and wheat have varied within a tight band for the state of Illinois. It has ranged from 22.0 million to 22.7 million acres for the three crops. Over this period acreage planted to wheat has been small and declining. It has decreased from 1.7 million in 1996 to just half-a-million in 2017. University of Illinois Agricultural Economist Gary Schnitkey says most of the acreage switches in the state have been between corn and soybeans. He makes note that this is a trend east of the Mississippi River, and while corn acres still out-number soybean in Illinois, that’s not the case in Ohio.Schnitkey :11 …and we are approaching near equality here in Illinois.…

Switches in Corn, Soybeans, and Wheat Acres | United States

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Switches in Corn, Soybeans, and Wheat Acres | United States
Gary Schnitkey, Agricultural Economist - University of IllinoisU.S. farmers have been shifting acres out of corn and into soybeans since 2012. This is likely because soybeans have been more profitable than corn. However, as Todd Gleason reports it is part of a larger trend that started in 1996.1996 is the year Congress passed a bill…
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3:041996 is the year Congress passed a bill informally called “Freedom to Farm”. It eliminated the set-aside programs for the primary row crops. These were supply-control measures. It freed farmers participating in government farm programs to plant whatever crop they wanted. It freed them, says University of Illinois Agricultural Economist Gary Schnitkey, to react to the marketplace. Schnitkey :31 …were more profitable than wheat.Quote Summary - From 1996 to 2012 we saw both corn and soybean acreages increase in the United States. This came, to a large extent, at the expense of …

IFES 2017: What Is Up with Soybean Yields

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IFES 2017: What Is Up with Soybean Yields
Scott Irwin, Agricultural Economist - University of Illinois
read farmdocDaily arcticleby Scott Irwin, Agricultural Economist - University of IllinoisSoybean yields in the U.S. have been very high the last four years. The U.S. average yield set new records in a stair-step fashion each year between 2014 and 2016. The 2016 yield reached the remarkable level of 52.1 bushels. While not a record, the 2017 yield (based on the November 1 USDA estimate) was 49.5 bushels, the second largest ever. On top of the high U.S. average yields are the numerous reports of field-level yields in the 70s, 80s, and even a few in the 90s.The high soybean yields of recent years have sparked a debate about what is driving the exceptional yields. In thinking about this debate it is important to understand that there are only three possible sources of soybean yield gain. The first is weather during the growing season. The second is genetic improvement in soyb…

IFES 2017: Crop and Livestock Price Prospects for 2018

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IFES 2017: Crop and Livestock Price Prospects for 2018
Todd Hubbs, Commodity Markets Specialist - University of Illinois
read farmdocDaily articleby Todd Hubbs, Commodity Markets Specialist - University of IllinoisCROPSCrop prices will remain below the high levels seen in the early part of this decade due to large global inventories. Global economic growth continues to build on the momentum seen over the last year. Growth in China and emerging market in Asia is projected to remain strong throughout 2018. The prospects of improved growth support commodity demand, but the significant changes to trade policy could mitigate some of this demand growth in export markets. Lower prices are expected to continue in 2018 barring a shortfall in one of the major production regions. The following price outlook analysis assumes a good 2018 growing season.Corn prices continue to struggle with large crops and five consecutive years of growth in ending stocks. Domestic corn demand continues…

U.S. Crop Acreage Still Moving to Soybean

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U.S. Crop Acreage Still Moving to Soybean
Gary Schnitkey, Agricultural Economist - University of Illinois
farmdocDaily articleFarmers in the United States have been slowly switching their cropland to just two field crops. Todd Gleason reports on the move away from wheat and towards soybeans. Corn is king in the United States…
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2:48 radio self-contained Corn is king in the United States. Soybean has been on a swift move upward. And wheat acreage has been on the decline for about 40 years. About half-way through those 4 decades two important things happened. Congress passed the 1996 farm bill - often called Freedom to Farm because it eliminated the last vestiges of supply controls for program crops and Monsanto introduced Round-Up Ready soybeans, that was 1995. The latter made it a whole lot easier to raise beans and the former, says University of Illinois Agricultural Economist Gary Schnitkey, let farmers react to the market. From 1996 to 2012 U.S. farmers increas…