September 28th, 2017
St Joseph |
|
Yellow Corn |
3.05 – 3.10 |
White Corn |
no bid |
Soybeans |
8.94 – 8.99 |
LifeLine Foods |
3.08 |
|
|
|
Atchison |
|
Yellow Corn |
3.10 – 3.18 |
Soybeans |
8.89 |
Hard Wheat |
3.63 |
Soft Wheat |
3.65 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.15 – 3.19 |
White Corn |
no bid |
Soybeans |
9.15 |
Hard Wheat |
3.83 – 3.87 |
Soft Wheat |
3.80 – 3.85 |
Sorghum |
5.40 |
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USDA Cash Grain Prices
For more information, contact the 680 KFEQ Farm Department.
816-233-8881.
For the first time, the United States has dropped from the top spot in a global ranking of how well countries can feed their own people. A new ranking shows Ireland now as the world’s most food secure nation, with the U.S. the second most food secure nation. Bloomberg reports the drop in food security for the U.S. can be attributed to concerns about agricultural research spending and government policy trends, which may make the world’s top food exporter a less-certain place to get a meal. Researchers for the Global Food Security Index say Ireland has improved its food affordability, availability, quality and safety over the last year. When including climate as a factor of food security, the U.S. fell even further to fourth on the list. This is the sixth annual ranking of food security by the Economist Intelligence Unit, a London-based economics group. Overall, global food security declined for the first time in five years, largely because of increases in the number of refugees, weather disasters and a decline in global political stability.
South Korea’s Trade minister is meeting with lawmakers in Washington, D.C. this week, ahead of a meeting with U.S. Trade Representative Robert Lighthizer next month. Lighthizer will meet with Korea next month to discuss a “path forward” for KORUS, The U.S.-Korea Free Trade Agreement. Korea’s Trade Minister has met with agriculture sector lawmakers, including Nebraska Republican Deb Fischer, to discuss KORUS, along with Iowa’s Chuck Grassley, according to Politico. Fischer maintained support for KORUS, “because of the great economic benefits it provides” agriculture. South Korea will host the next trade meeting with the U.S. on October 4th. The Trump administration is seeking to amend the five-year-old deal to address the country’s growing deficit in trade with South Korea.
The American Farm Bureau Federation says tax reform framework released Wednesday includes important principles for agriculture. Farm Bureau President Zippy Duvall said in a statement that AFBF was encouraged by the inclusion of lower tax rates for individuals who own businesses, elimination of the death tax and some business interest deductibility. However, AFBF says any tax reform package should also include the continuation of cash accounting and like-kind exchanges, unlimited stepped-up basis and lower capital gains taxes. President Trump announced the tax reform framework at the Farm Bureau building at the Indiana State Fairgrounds. Meanwhile, the National Cattlemen’s Beef Association welcomed the tax plan, saying cattle producers are “very pleased” with the President’s plan.

A study sponsored by seven agriculture groups and released by Farm Policy Facts calls a plan by the Heritage Foundation misleading. Brandon Willis, former Agriculture Department Risk Management Agency administrator, crafted the study “How Heritage Foundation’s U.S. Farm Policy Proposals Would Put America Last.” The Heritage Foundation released a blueprint earlier this year for the 2018 Farm Bill, and claims it is time to change farm policy. The blueprint would eliminate revenue-based crop insurance and the Renewable Fuel Standard, eliminate the Waters of the United States Rule and eliminate bio energy programs. Willis writes in the Farm Policy Facts study that the Heritage Foundation assumes farmers are in a good position economically, but adds the Foundation cherry-picked the data and used a flawed methodology to “exaggerate the financial condition of actual farmers and ranchers.” Willis says 70 percent of the income reported was derived from other sectors. His research shows that wheat, corn and cotton farmers, when all cost are considered, profit less than 30 percent of the time. The study is available at www.farmpolicyfacts.org.

Higher supplies of meat will continue to pressure consumer prices lower, according to a forecast by the Department of Agriculture. The USDA Economic Research Service Food Price Outlook predicts beef and veal prices to decrease one to two percent in 2017 but increase the same amount in 2018. That’s because in August, the U.S. cattle herd was at its highest level since 2008, according to meat industry publication Meatingplace. Lower beef prices are adding pressure to lower pork prices, along with an anticipated 4.9 percent increase in pork production this year. Large pork supplies are expected to change retail prices in a range of 0.5 percent lower to 0.5 percent higher in 2017, but increase 1.5 to 2.5 percent in 2018. Meanwhile, prices for poultry rose 0.2 percent from July to August and are one percent higher than last year. Despite high broiler production, many broilers have low weights, which along with larger birds demanding higher prices, has contributed to higher retail poultry prices.