July 21st, 2016
St Joseph |
|
Yellow Corn |
3.08 – 3.20 |
White Corn |
no bid |
Soybeans |
9.97 – 10.09 |
LifeLine Foods |
3.20 |
|
|
|
Atchison |
|
Yellow Corn |
3.16 – 3.19 |
Soybeans |
9.82 |
Hard Wheat |
3.32 |
Soft Wheat |
3.42 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.22 – 3.24 |
White Corn |
3.58 – 3.67 |
Soybeans |
10.23 |
Hard Wheat |
3.48 – 3.53 |
Soft Wheat |
3.73 |
Sorghum |
4.81 – 4.90 |
For more information, contact the 680KFEQ Farm Department.
816-233-8881.
The downturn in commodity prices is starting to put serious pressure on producers across the country that rent most of their farmland. A report from DTN says that group most likely consists of young farmers and experienced operators who rapidly expanded when $8 corn was about to end. Cash rents haven’t adjusted to the lower commodity prices as quickly. A recent Iowa State University survey of cash rents shows a price of $270 per acre in 2013 has only come down to $230 an acre in 2016. University of Illinois economist Gary Schnitkey estimates farmers in his state lost $101 dollars an acre on cash rent land, and only $1 per acre on land they owned. Working capital drops based on the amount of land farmers rent. An Illinois study said farmers who rent 25 to 50 percent of their land had about $70 dollars more per acre in working capital than 100 percent cash renters from 2003-2008. After commodity prices dropped, that gap jumped to $190 dollars an acre.
A new survey conducted by the University of Wisconsin at Madison and the University of Pennsylvania shows Americans widely support the labeling of genetically modified foods. However, they don’t appear to have a lot of actual knowledge about scientific evidence that supports the safety of those foods. 58 percent of the adults in the survey admit to having a fair or poor understanding of what genetically modified foods are. 88 percent of those surveyed support the mandatory labeling of GMO foods, and 91 percent say that people have a right to know what they’re eating. Only 18 percent of those surveyed knew about a May 17 report on GMO’s from the National Academies of Sciences, Medicines, and Engineering that says there is no more risk evident in consuming GMO foods instead of non-GMO products. Only 39 percent of the respondents agreed with the statement that GMO foods are safe to eat, while 27 percent disagreed.


On Monday, a panel of experts said world water scarcity is a growing problem that will have a direct effect on agriculture and an expanding population that will need food. DTN/The Progressive Farmer says panelists at an Ag Symposium at the Federal Reserve Bank in Kansas City said farmers worldwide need to find a way to produce more food on the same amount of land or they’ll need to broaden agriculture’s footprint in the face of expanding water shortages. Mark Rosegrant of the International Food Policy Research Institute said water scarcity has grown in recent years and drought is expanding in different areas of the world. He said the adoption of new technologies, including drop and sprinkler irrigation, is not having system-wide benefits as far as curbing water use. However, the panel also said the rate of growth in annual grain production yields of 1.2 percent between 1965-2011 won’t be enough to feed a projected population of nine billion in 2050.
China National Cereal Company along with Oils and Foodstuffs Corporation announced a merger with Chinatex. The goal is to create a bigger company to compete with the “ABCD companies” in global grain trading. World Grain Dot Com said the term ABCD refers to companies that act as a middle man between farmers and grain markets in global trading. The groups are ADM Company, Bunge Limited, and Cargill Incorporated from the U.S., along with Louis Dreyfuss SAS in the Netherlands. Chinatex is one of the nation’s main textile and grain trading groups, and will now become a subsidiary of the nation’s biggest food trader after the merger. This indicates that the central government will now push ahead with efforts to redo state-owned enterprises this year. The three companies are huge in terms of total volume of grains traded. The total amount of purchased corn exceeds domestic volumes, and the soybean import volume accounts for more than 30 percent of the total imports into China.