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Indonesian wheat milling executives coming to America

wheatU.S. Wheat Associates will bring milling executives from one of the largest Indonesian companies to America this month to tour the U.S. wheat supply chain. The managers of four different flour mills under the same umbrella company will learn how U.S. hard red spring wheat, hard red winter wheat, and soft white can help to fill the needs in their expanding market. U.S. Wheat Associates says it has had success promoting the processing advantages of flour made from U.S. hard red spring and winter wheat in bread products. The group says it will also promote the advantages of soft white for great performance in cakes, cookies, and other soft wheat products. U.S. wheat has been at a price disadvantage against Canadian wheat over the past couple of years. U.S. Wheat regional vice president Matt Weimar said, “it’s important to bring in executives from large overseas companies to put a face to the advantages of American wheat. It makes a difference when a buyer can meet with the breeders, grain handlers, and farmers that make U.S. wheat the most reliable supply in the world.” The tour runs August 17-27 in North Dakota and the Pacific Northwest.

U.S. dairy farmers ask USDA to buy cheese

dairy productsU.S. dairy farmers have asked the USDA to purchase up to $150 million worth of cheese. Pro Farmer’s First Thing Today says that money could purchase up to 90 million pounds of cheese to help feed the poor, and it also would help farmers struggling with the lowest milk prices they’ve seen since 2009. National Milk Producer’s Federation CEO Jim Mulhern said it would remove the equivalent of 900 million gallons of milk from the market. That move would boost global on farm income by 16 cents per hundredweight over one year, and improve dairy farmer income by $380 million dollars. Worldwide demand has slumped over the last two years, with a large part of that due to fewer purchases from China and Russia.

Obama tells Congress that TPP is coming

White House LogoThe White House let Congress know last Friday morning that it will be bringing the Trans-Pacific Partnership Agreement to lawmakers in a move that’s intended to bring new energy to the discussions. The move comes amid a presidential campaign that has both major party candidates coming out against the deal as a “job-killer.” Politico’s Morning Agriculture Report says President Obama feels the deal would pass in a lame-duck session of Congress, noting that he’d like to discuss that fact with lawmakers once the elections are over, instead of playing political football with the topic. Obama called America “a part of the global economy,” stressing the necessity of international supply chains and the importance of the export sector to U.S. jobs and the economy. While Republicans in Congress have questions about the deal they’d like answered, many Democrats called the deal a non-starter because of concerns about enforcing labor and environmental standards in countries like Vietnam. Currency manipulation is another part of the deal for which Congress wants awnsers on.

Sales of precision farm services expected to slow

photo courtesy of AgAmerica
photo courtesy of AgAmerica

Following the downturn in the agriculture economy, a majority of precision farm equipment dealers expects sales to slow. Precision Farming Dealer magazine reports only 40 percent of dealers expect some growth in their precision farming sales due to the continuing headwinds in agriculture. Still, precision farm equipment dealers remain optimistic. The magazine’s 2016 Benchmark Study found only 21.1 percent of dealers expect any fall off in revenue, a considerable improvement from last year’s results when 35.5 percent of dealers predicted declining revenues. The percentage of dealers reporting declines of seven percent or less in 2015 revenue was about two percent less than forecast in last year’s benchmark study. When it comes to predicting strong growth, however, fewer dealers expect a significant gain in sales dollars in the precision segment of their business. The survey shows just one in 10 dealers are projecting revenue increases of over eight percent for this year.

USDA forecasts record-high corn and soybean production in 2016

Both U.S. corn and soybean growers are expected to harvest record-high crops this year, according to the Crop Production report issued by the Department of Agriculture’s National Agricultural Statistics Service. USDA NASS Friday released the report that shows U.S. corn production is forecasted at 15.2 billion bushels, while soybean growers are expected to harvest 4.06 billion bushels in 2016. Average corn yield is forecast at 175.1 bushels per acre, setting a new record-high. U.S. soybean farmers also took advantage of the favorable weather conditions and are expected to increase their production by three percent from 2015. Soybean yields are expected to average 48.9 bushels per acre, reaching another record-high mark. Wheat production is forecasted at 2.32 billion bushels, up 13 percent from 2015. The report also included the first production forecast for U.S. cotton. NASS forecasts all cotton production at 15.9 million bales, up 23 percent from last year. Yield is expected to average 800 pounds per harvested acre, up 34 pounds from last year.

Monday’s closing grain bids

August 15th, 2016

St Joseph

 

Yellow Corn

3.01 – 3.09

White Corn

no bid

Soybeans

10.04 – 10.19

LifeLine Foods

3.07

 

 

Atchison

 

Yellow Corn

3.09 – 3.11

Soybeans

9.79

Hard Wheat

 3.36

Soft Wheat

3.47

 

 

Kansas City Truck Bids

 

Yellow Corn

 3.12 – 3.17

White Corn

 no bid

Soybeans

 10.29

Hard Wheat

 3.54 – 3.57

Soft Wheat

 3.67

Sorghum

5.03

For more information, contact the 680 KFEQ Farm Department.
816-233-8881.

EPA calls USDA a leader in green power use

usda seal logoThe Environmental Protection Agency says the Department of Agriculture is one of the nation’s leading green power users. USDA is using more than 169 million kilowatt-hours of green power annually, which represents 35 percent of its total energy needs. The EPA recognizes USDA as number five on its Top 10 Federal Government list of the largest green power users. Additionally, USDA is number 43 on the National Top 100 list. The Green Power Partnership is a voluntary program encouraging organizations to use green power to reduce the environmental impacts associated with electricity use. By using green power, USDA is reducing 120 million metric tons of CO2 per year, or the equivalent of taking 25 million cars off the road. USDA is generating green power from on-site renewable energy including solar, wind, biomass, hydro and geothermal systems. USDA also uses alternative fuels in vehicles, designs and constructs high-performance green buildings and promotes the use of biobased products.

Cargill full year earnings down 11 percent

Cargill logoCargill this week reported financial results for the fourth quarter and full fiscal year ending May 31st, 2016. The report comes as the company is on what it calls a “transformative path” to strengthen financial performance. Cargill reported full year earnings were down 11 percent, but noted net earnings were up 50 percent. The net earnings jump is attributed to the reshaping of the company’s portfolio, including selling off multiple pieces of the business in the refocusing efforts. Cargill CEO David MacLennan says while Cargill has more work to do, the company has already made many changes and is “seeing improved results.”

Wednesday’s closing grain bids

August 10th, 2016

St Joseph

 

Yellow Corn

2.97 – 3.05

White Corn

no bid

Soybeans

9.77 – 9.92

LifeLine Foods

3.03

 

 

Atchison

 

Yellow Corn

3.05 – 3.07

Soybeans

9.52

Hard Wheat

 3.36

Soft Wheat

3.46

 

 

Kansas City Truck Bids

 

Yellow Corn

 3.08 – 3.13

White Corn

 3.46 – 3.51

Soybeans

 9.97

Hard Wheat

 3.52 – 3.57

Soft Wheat

 3.67 – 3.72

Sorghum

4.96

For more information, contact the 680 KFEQ Farm Department.
816-233-8881.

Farmers Business Network announces $20 million in funding

tractor 2The Farmer’s Business Network announced this week it has raised $20 million in additional funding, led by Acre Venture Partners. The independent farmer-to-farmer network says it will use the funds to further expand its farmer network, farm analytics and FBN Procurement Services. Launched commercially in 2015 and originating from farmers, the FBN network now encompasses more than 2,500 farms operating nearly nine million acres in 31 states. The company says the FBN network levels the playing field for farmers by networking farms together and enabling transparent national access to manufacturer direct prices on farm inputs. The new round of fundraising brings total funding to nearly $48 million for the services.

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