million acres

Can Corn and Oil Live Together?

Dan Corn, Industry News Release

Oil-state Republican legislators met with President Trump on Thursday to discuss the Renewable Fuels Standard. They left with a directive from the president to figure out a compromise that would work out for both the oil and renewable fuels industries. Politico says Oklahoma Senator Jim Inhofe was one of the lawmakers who met with Trump. “The president wants us to …

grain analysts

Corn Industry Meet with Mexico Regarding Trade

Dan Corn, Exports/Imports, Industry News Release, Trade

Corn industry leaders visited Mexico last week to reinsure the importance of trade. The National Corn Growers and the U.S. Grains Council hosted the joint mission, which also included a group of leaders visiting South Korea. NCGA President Kevin Skunes was part of the group that traveled to Mexico. Trip The group met with agriculture officials, grain association representatives and …

fuel

China Needs More Corn to Meet Fuel Mandate

Dan Corn, Energy, Industry News Release

To meet a fuel blend requirement, China must import more corn, according to industry analysts. A Stewart Peterson advisor tells Farm Journal’s AgDay that China will need to import “an additional billion bushels of corn a year” to meet the mandate. Earlier this year, China announced the nation would require ethanol blends in all fuel by 2020. Demand is growing …

crop updates

Soybeans to Overtake Corn in 2019

Dan Corn, Industry News Release, Soybeans

The U.S. Department of Agriculture released a preview of its long-term planting projections Tuesday. The USDA considers a lot of factors when making the projections, including macroeconomic conditions, GDP growth, and farm policy. An important projection from the early release is the overall number of planted acres. Total planted acres for the eight principal crops and land in the Conservation …

farmers

Farmers Need Trade to Move Record Corn Crop

Dan Corn, Exports/Imports, Industry News Release, Trade

It’s no secret that American farmers produced another record corn crop, which means overseas market access will be a big key to limiting losses due to depressed corn prices. The Illinois Corn Growers Association says this is what farmers pencil out on paper to demonstrate why market access is so important to corn farmer profitability. “It looks like our ‘what …

Wall Street

Grain Traders Getting Squeezed by Oversupply

Dan Corn, Industry News Release, Wheat

Over the past few years, farmers have cut their spending due to low commodity prices caused, in part, by a global glut of commodities. A Dow Jones report says it’s now commodity traders’ turn to do the same. Companies that dominate the global grain trade, including Archer Daniels Midland and Bunge, Ltd., are cutting spending by hundreds of millions of …

crude oil

More Money Raising Soybeans

Dan Industry News Release, Soybeans

For four years in a row crop farmers in Illinois, other parts of the nation too, have made more money on soybeans than corn. The numbers are pretty clear and University of Illinois Agricultural Economist Gary Schnitkey lays them out in an online farmdocDaily article. He says, on average, soybeans have been more profitable than corn since 2013. And farmers have responded …

grain analysts

Southern Region October Crop Production

Dan Alabama, Corn, Cotton, Crop Forecasts, Field Crops, Florida, Georgia, Peanuts, Soybeans, Wheat

The Southern Region October Crop Production has Corn production in the United States is forecast at 14.3 billion bushels, down 6 percent from last year. Based on conditions as of October 1, yields are expected to average 171.8 bushels per acre. Soybean production is forecast at a record high 4.43 billion bushels, up 3 percent from last year. All cotton …