The latest World Agricultural Supply and Demand Estimates (WASDE) report released Tuesday by the Department of Agriculture predicts lower corn stocks. USDA predicts that about 2.43 billion bushels of corn will be in storage at the end of the 2018 marketing year, down from a previous estimate of 2.48 billion. USDA expects 50 more million bushels of corn will be …
Corn Market May Need Disruption
A banking official from Nebraska says the market may need “some disruption in production,” to reach higher prices for corn. Tom Jensen of First National Bank of Omaha told the Omaha-World Herald there is nothing on the horizon to increase corn prices, unless something disrupts the market. A disruption of the corn market means, generally, some form of natural disaster, …
Can Corn and Oil Live Together?
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 …
Corn Industry Meet with Mexico Regarding 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 …
China Needs More Corn to Meet Fuel Mandate
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 …
Grant to Provide Greater Soil Health Research
A more than $9 million grant from the Foundation for Food and Agriculture Research will assist farmers, ranchers, and landowners strategically assess and implement soil health improvement practices on their farm. Awarded to the to the Soil Health Institute, the Soil Health Partnership and The Nature Conservancy, the grant will support research efforts aimed at improving soil health. Nick Goeser, …
Grain Elevator Profit Margins Could Increase in 2018
A new report from CoBank says 2018 could bring an increase in profit margins for grain elevators. The report cites a weak harvest basis, along with low transportation rates, and other issues for the prospect of improved profit margins. A CoBank researcher also says a large carryover and another huge crop have “created an attractive carry in futures markets, particularly …
NCGA Statement on EPA’s Final 2018 Renewable Volume Obligation
The following is a statement from North Dakota farmer Kevin Skunes, president of the National Corn Growers Association (NCGA), in response to the announcement by the U.S. Environmental Protection Agency (EPA) of the final 2018 Renewable Volume Obligation (RVO) under the Renewable Fuel Standard (RFS). “NCGA is pleased to see the EPA meet the Administration’s commitment to keep the RFS on track when it comes …
EPA Releases ‘18 Ethanol Volumes at Maximum levels; Chicken Producers Cry Foul
Agency keeps pumping corn ethanol into a saturated fuel market The U.S. Environmental Protection Agency (EPA) announced that it is mandating the statutory maximum 15 billion gallons of ethanol be added to the domestic fuel supply in 2018, the second consecutive year EPA has mandated the maximum amount of ethanol allowed under the Renewable Fuel Standard (RFS). The currently mandated …
Soybeans to Overtake Corn in 2019
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 …