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Monday’s closing grain bids

April 24th, 2017

 

St Joseph

 

Yellow Corn

3.34 – 3.39

White Corn

no bid

Soybeans

9.18 – 9.23

LifeLine Foods

3.40

 

 

Atchison

Yellow Corn

3.35 – 3.44

Soybeans

9.06

Hard Wheat

3.26

Soft Wheat

 3.37

 

 

Kansas City Truck Bids

 

Yellow Corn

3.40 – 3.45

White Corn

3.44 – 3.49

Soybeans

9.32 – 9.35

Hard Wheat

3.66

Soft Wheat

3.77

Sorghum

5.53

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

Buffet foundation/Drovers to raise $2 million for wildfire relief

wildfireDrovers, a Farm Journal Media franchise, and the Drovers Foundation have accepted a challenge from philanthropist and American farmer-rancher Howard G. Buffet to raise $2 million for wildfire relief. Last month saw devastating wildfires burn 1.6 million acres in Kansas, Texas, Oklahoma, and Colorado. Starting now, all monetary donations to the Drovers/Farm Journal Million Dollar Wildfire Relief Challenge will be matched dollar-for-dollar by the Howard G. Buffet Foundation, up to $1 million. Howard Buffet says, “This is a once-in-a-lifetime disaster that’s left ranchers with both immediate and long-term needs to rebuild what they’ve lost. We are pleased to partner with Drovers and the Farm Journal Foundation in this recovery effort and hope our matching contribution pledge will inspire others to show their support.” While the ag community rallied to deliver hay and other in-kind contributions, the long-term job of rebuilding is really just beginning. For example, roughly 18,000 miles of fencing needs to be rebuilt, likely at a cost of $10,000 a mile. All donations will be administered by the Working Ranch Cowboys Association, a respected nonprofit dedicated to assisting working ranch cowboys and their families in time of need. For more information on recovery efforts, check out Wildfire Relief Fund Dot Org.

Farm lending continues to moderate

fed logoLending activity at agricultural banks across the country continued to decline in the first quarter of 2017. A report from the Federal Reserve Bank of Kansas City says economic conditions in the farm sector are still weak, so borrowers and lenders have worked together to make adjustments in financing agricultural production across America. Ag lenders are making more adjustments to loan terms because of heightened risk in the ag sector. For example, the report says revenues from agricultural production are expected to decline again in 2017. Farm incomes from corn, soybeans, wheat, and cattle, are expected to drop by five percent compared to 2016. Some producers are making adjustments in the cost of their inputs when they can. The reduced amount of producer spending likely has contributed to reductions in the volume of new farm loans. The overall volume of non-real estate farm loans in the first quarter of this year dropped 16 percent from 2016. The Survey of Terms of Bank Lending to Farmers showed the decrease in the first quarter as the sixth consecutive year-over-year decline in the volume of new non-real estate farm loans and followed a significant drop in the fourth quarter of 2016.

Renewable fuels standard heads to court

gas prices fuel pumpThe Environmental Protection Agency will be in Washington D.C. Circuit court starting Monday as the court hears oral challenges to the 2014-2016 Renewable Fuels Standard Volumes. Politico’s Morning Energy Report says the RFS has supporters and detractors in both major political parties, so this case represents a rare nonpartisan issue for the EPA. The agency will have to defend itself against accusations that it set volumes for conventional biofuels, cellulosic biofuels, and biomass biodiesel too high or too low, depending on who’s speaking at the time in the courtroom. The EPA will need to defend its waiver to set the conventional biofuel requirements below congressionally-set levels. The EPA will also argue it’s under no obligation to change who must comply with the program. EPA’s positions in this case maximize administrative flexibility for the agency, something that EPA Administrator Scott Pruitt likely wants to preserve. The Morning Energy Report also stressed that this isn’t an issue that began when Donald Trump was elected as it’s been a debate for years.

NAFTA talks not happening soon

President Donald Trump says the White House will offer some preliminary plans on the possible renegotiation of the North American Free Trade Agreement sometime within the next two weeks. While he didn’t get more specific than that, Politico’s Morning Agriculture report adds that a White House spokesman says the Administration is currently working on negotiating text with Congress. The White House will then proceed with the required 90-day notice to Congress once a U.S. Trade Representative is confirmed. Robert Lighthizer is the nominee for the position but his confirmation is being held up because of past work he’s done representing foreign governments in Washington, D.C. Democrats say he needs a waiver approved by both the House and Senate to be confirmed, while the White House says he doesn’t. Before the letter can be sent to Congress, the White House must complete a series of meetings with groups of lawmakers, one of which is the Senate Advisory Group on Negotiations. Democrats on the panel are refusing to meet with anyone but Lighthizer. As a result, Politico says it’s looking like the nominee will have to get the waiver, clear a committee vote, and then get the full Senate vote for confirmation. All that means the two-week timeline is more than a little uncertain.

Thursday’s closing grain bids

April 20th, 2017

 

St Joseph

 

Yellow Corn

3.31 – 3.38

White Corn

no bid

Soybeans

9.05 – 9.07

LifeLine Foods

3.39

 

 

Atchison

Yellow Corn

3.33 – 3.42

Soybeans

8.91

Hard Wheat

3.27

Soft Wheat

 3.41

 

 

Kansas City Truck Bids

 

Yellow Corn

3.38 – 3.43

White Corn

3.45 – 3.52

Soybeans

9.19 – 9.22

Hard Wheat

3.63

Soft Wheat

3.81

Sorghum

5.50

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

Monsanto surpasses pollinator habitat goal

flower insectMonsanto announced it has reached milestones in two key aspects of its biodiversity program, including protecting species and promoting sustainable landscapes. Monsanto established 72 habitats for monarch butterflies and other pollinators at company sites across America. The number of those sites certified by the Wildlife Habitat Council doubled from 15 to 31 in the past year. “Our commitment to establishing pollinator and wildlife habitats is an important part of our advocacy for protecting species and promoting sustainable landscapes, which are at the heart of our biodiversity strategy,” said Pam Strifler, Monsanto Vice President of Sustainability and Stakeholder Engagement. In addition to the work Monsanto is doing on its own sites, they’re providing funding to support several initiatives that help to boost monarch habitat, honeybee health, reforestation, seed collection, and preservation. Monsanto is the primary corporate funder of the National Fish and Wildlife Foundation’s Monarch Butterfly Conservation Fund. One result of the Fish and Wildlife Foundation’s projects includes creating 16,000 acres of new pollinator habitat in 2016. Pheasant’s Forever also worked with Monsanto to help develop new pollinator sites.

Canada responds to dairy trade disagreement with U.S.

dairy cowCanada’s Ambassador to Washington told the Associated Press this week that Donald Trump is wrong when he says that Canada’s dairy industry trade practices “are very unfair.” David MacNaughton wrote a letter to the governors of Wisconsin and New York to let them know Canada is aware of their request to the president for help with Canada’s dairy practices. “Canada does not accept the contention that its dairy policies are the cause of financial loss for dairy farmers in the United States,” he said. He attached a USDA dairy outlook report to the letter, which he says clearly indicates that the poor performance in the dairy sector is due to U.S. and global overproduction. Canada recently decided to impose import taxes on ultra-filtered milk, which is used to make cheese. It had been imported tax-free but Canada changed direction after dairy farmers there complained. About 70 percent of dairy farmers in Wisconsin and New York are affected by the policy change. The U.S. dairy lobby accuses Canada of disregarding its trade obligations while the Canadian industry accused the U.S. of scapegoating.

Trump vows to fix Wisconsin dairy situation

dairy productsAt a recent stop in Wisconsin to discuss job creation, President Donald Trump vowed to support Wisconsin dairy farmers in their trade dispute with Canada and possibly make big changes to the North American Free Trade Agreement. A Milk Business Dot Com article quotes the President as saying “We’re using every tool at our disposal to restore the American dream. We’re going to stand up for Wisconsin dairy farmers.” Trump has been discussing the situation with his advisers and says he plans to demand fair trade from all our trading partners, including Canada. A recent letter from Wisconsin officials to Commerce Secretary Wilbur Ross noted that Canada’s new targeted milk pricing programs have made it very difficult for Wisconsin dairy producers to get their product into the Canadian market. “We are greatly concerned that the new pricing programs violate their trade obligations with the United States,” the letter adds. Trump promised a group of leaders that a group including Wisconsin Governor Scott Walker, several senators, and Speaker of the House Paul Ryan would get together to figure it out. “We’re going to get together, call Canada, and ask them what happened,” Trump promised the crowd. He promised big changes to NAFTA or says it might be time to get rid of it once and for all.

Wednesday’s closing grain bids

April 19th, 2017

 

St Joseph

 

Yellow Corn

3.37 – 3.40

White Corn

no bid

Soybeans

9.08 – 9.10

LifeLine Foods

3.42

 

 

Atchison

Yellow Corn

3.37 – 3.46

Soybeans

8.95

Hard Wheat

3.41

Soft Wheat

 3.54

 

 

Kansas City Truck Bids

 

Yellow Corn

3.42 – 3.47

White Corn

3.48 – 3.53

Soybeans

9.15 – 9.20

Hard Wheat

3.72

Soft Wheat

3.94

Sorghum

5.57

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

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