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Thursday’s closing cash grain bids

August 4th, 2016

St Joseph

 

Yellow Corn

2.96 – 3.06

White Corn

no bid

Soybeans

9.47 – 9.66

LifeLine Foods

3.05

 

 

Atchison

 

Yellow Corn

3.03 – 3.05

Soybeans

9.26

Hard Wheat

 3.30

Soft Wheat

3.28

 

 

Kansas City Truck Bids

 

Yellow Corn

 3.06 – 3.11

White Corn

 3.46 – 3.52

Soybeans

 9.72

Hard Wheat

 3.46 – 3.51

Soft Wheat

 3.58

Sorghum

4.57 – 4.66

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

 

USDA announces specialty crop research and extension investments

vegetables USDAgovThe U.S. Department of Agriculture this week announced 19 grants totaling $36.5 million for research and extension to support American farmers growing fruits and vegetables, tree nuts, dried fruits, horticulture and nursery crops including floriculture. The grants are funded by the USDA National Institute of Food and Agriculture Specialty Crop Research Initiative, authorized by the 2014 Farm Bill. Agriculture Secretary Tom Vilsack says the investments will help “address challenges at the national and local levels to help sustain all parts of America’s food and agriculture system.” The funded projects address research and extension needs that span the entire spectrum of specialty crops production. To date, USDA has awarded almost $400 million through the specialty crops program.

Farm Bureau urges support for legislation to strengthen technical education

Farm BureauThe American Farm Bureau Federation is urging lawmakers to support the Strengthening Career and Technical Education for the 21st Century Act. The bill reauthorizes the Carl D. Perkins Career and Technical Education Act. In a letter sent to House lawmakers, AFBF encouraged reauthorization of the bill because, as Farm Bureau says, career and technical education and post-high school job training and retraining are essential to the economic viability of rural communities. Farm Bureau President Zippy Duvall says “a skilled workforce is needed in rural America, just as it is in urban and suburban communities.” Duvall pointed out the bill would provide agriculture education programs the funding assistance needed to create a well-rounded, practical approach to learning through classroom education. The House Committee on Education and the Workforce approved the bill earlier this month. However, both chambers of Congress remain in recess until after Labor Day.

Renewable fuels association calls for probe in biofuel credits price spike

biofuel smallThe Renewable Fuels Association says U.S. regulators and environmental officials should probe for possible manipulation in the market for U.S. biofuel credits. The comments come after prices for biofuels credits “surged for unknown reasons,” according to RFA. In a letter this week, the Association encouraged the Commodity Futures Trading Commission and the Environmental Protection Agency to determine “whether certain parties may be exerting undue influence on prices or otherwise engaging in manipulative practices.” RFA says the association is concerned about “recent irregular activity and volatility” in the market for Renewable Identification Numbers, or RINs, for which prices have climbed about 30 percent since mid-May. Last week, prices of RINs neared three-year highs as traders raced to buy the credits. In March, the agencies signed a memorandum of understanding regarding RINs, under which the CFTC agreed to help EPA conduct investigations into possible fraud and market abuse.

Rabobank advising farmers to limit and cut production cost

FarmAmid a third year of negative margins, farmers need to cut production costs to maintain access to capital, according to a new report by Rabobank. The report says the next several years will be tough because farmers typically can only survive a couple years of negative income and still access operating capital and loans. The “Farming the Efficient Frontier” report advises farmers to use cost-cutting strategies instead of focusing on crop volume to stay profitable. Researchers at Rabobank warn that given current input costs and market action, farmers need to avoid the mistake of planting too many acres. That’s because land is the “single largest expense” on most crop farm income statements. Over the next five years, the report estimates flat to lower prices for wheat, a three to eight percent increase in corn prices and consistent export growth for soybeans.

Vermont stops enforcement of GMO labeling law

GMO tomatoVermont this week announced the state has stopped enforcement of its GMO labeling law, following President Barak Obama signing the national GMO labeling bill that preempts state laws. Vermont’s Attorney General William Sorrell issued the announcement Tuesday, saying he was pleased Vermont spurred Congress to act. However, Sorrell added “it is unfortunate that corporate interests were ultimately able to water down Vermont’s clear disclosure standard” through the federal law. He says his office intends to “take an active role” as the focus moves from the legislative process to the regulatory process at the U.S. Department of Agriculture, according to Politico. Sorrel is opposed to provisions in the federal law that allow for the use of smart labels directing consumers to more information. USDA has two years to complete the rulemaking process but has not ruled out rushing the process through the final months of the Obama administration.

Wednesday’s cash grain bids

August 3rd, 2016

St Joseph

 

Yellow Corn

3.00 – 3.10

White Corn

no bid

Soybeans

9.40 – 9.60

LifeLine Foods

3.09

 

 

Atchison

 

Yellow Corn

3.07 – 3.10

Soybeans

9.25

Hard Wheat

 3.37

Soft Wheat

3.35

 

 

Kansas City Truck Bids

 

Yellow Corn

 3.10 – 3.15

White Corn

 3.47 – 3.54

Soybeans

 9.71

Hard Wheat

 3.52 – 3.57

Soft Wheat

 3.64

Sorghum

4.64 – 4.73

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

Many U.S. governors strongly support TPP

A discussion panel at the National Association of Governors Meeting in July concluded that agriculture will be a big loser if the Trans-Pacific Partnership isn’t passed by Congress. The TPP involves 12 nations and covers 40 percent of the world’s economy. The agreement opens up new and lucrative markets for American agricultural products overseas. Farm Progress Dot Com says governors at the meeting called attacks on TPP “misguided,” citing attacks from members of Congress as well as the presidential candidates in the upcoming election. U.S. Trade Representative Michael Froman was in Iowa for the meeting as the Administration’s top person trying to sell the agreement to a skeptical Congress. He said the agreement is projected to boost the U.S. economy by $4.4 billion annually. Froman told the audience, “We’ve got to get it done this year. If we don’t get it done, given the current political climate, I’m not sure it would get done.” Supporters say it would give the U.S. influence over trade in the Pacific Rim, and supporters warn that China is ready to step in if the U.S. doesn’t.

EPA’s latest atrazine report ignores science

Environmental Protection Agency EPAA recent Environmental Protection Agency draft report on atrazine doesn’t take into account a large amount of scientific evidence that reaffirms the product is safe. The National Corn Growers Association’s Production and Stewardship Action Team says that sets a dangerous precedent. The team says federal law requires the EPA to make its decisions based on science, and the science is pretty clear. Atrazine is one of the safest and most effective crop management tools farmers have in their toolboxes. It’s also one of the most studied products in history with 50 years of data available. EPA released its draft assessment in June. All pesticides must be registered with the EPA, and be re-registered every 15 years. When the EPA drafted the assessment, the agency ignored several high-quality studies that showed atrazine to be safe. Instead, the EPA used studies its own Science Advisory Panel called “flawed” back in 2012.

Long term ag outlook strengthens

Photo courtesy Missourinet
Photo courtesy Missourinet

After a volatile June and early July in the commodity markets, agricultural outlooks turned higher in the rest of July. The Purdue University/CME Group Ag Economy Barometer turned higher, coming in at 112 in July, up from 104 in June and 97 in May. The improved outlook among producers in the survey came despite a tumble in commodity prices in June and early July. While their future outlooks improved, their feelings about current conditions declined to a value of 93, down from a more optimistic number of 98 in June. 69 percent of respondents expect tough financial times in the next year, which is consistent with the previous two months. However, the number of respondents that expect tough financial times in agriculture over the next five years dropped to 40 percent, lower than in previous months. Producers also expect higher commodity prices and rising farmland values in the next year. Purdue/CME Group experts say producers improving long-term outlooks likely come from lower costs, due in part to lower fertilizer prices and cash rents.

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