April 7th, 2016
St Joseph |
|
Yellow Corn |
3.46 – 3.54 |
White Corn |
no bid |
Soybeans |
8.69 – 8.77 |
LifeLine Foods |
3.57 |
|
|
|
Atchison |
|
Yellow Corn |
3.57 – 3.58 |
Soybeans |
8.59 |
Hard Wheat |
3.59 |
Soft Wheat |
2.82 |
|
|
|
Kansas City Truck Bids |
|
Yellow Corn |
3.57 – 3.60 |
White Corn |
3.88 – 3.92 |
Soybeans |
9.00 |
Hard Wheat |
4.32 |
Soft Wheat |
3.07 |
Sorghum |
5.74 |
For more information, contact the 680KFEQ Farm Department.
816-233-8881.
Monsanto Wednesday reported a drop in second-quarter earnings as expected. The St. Louis, Missouri-based company told investors Wednesday net income attributable to the company fell to $1.06 billion in the quarter that ended February 29th, from $1.43 billion, a year earlier. Meanwhile, the company effectively pulled away from the mergers and acquisitions flurry in the industry, according to Reuters. Monsanto CEO Hugh Grant said the company now sees its best deal-making opportunities in smaller acquisitions, licensing deals and partnerships. Monsanto was making an offer to acquire Syngenta roughly this time last year. However, after turning down Monsanto’s offers, Syngenta in February agreed to be acquired by ChemChina for $43 billion. Monsanto also approached Bayer AG last year.
DuPont will work with Chinese seed producer Origin Agritech to develop new biotech traits for China. Bloomberg reports the Chinese company is awaiting approval of corn varieties to control insects and tolerate herbicides. The two companies in a statement said the partnership will bring much needed new seed options for China’s farmers. DuPont’s Pioneer seed unit has operated in China for almost 20 years and is the largest multinational corn seed company in the country. China’s President has urged the country to take the lead in developing genetically engineered crops. Syngenta could also enter the Chinese market with biotech traits once the proposed acquisition by ChemChina is final.
A recent study commissioned by media group J.L. Farmakis details how farmers are scrambling to address low commodity prices. The study results announced Wednesday include comments from 160 farmers, primarily from the Midwest. The study found that half of the farmers surveyed are seeking off-farm employment. Meanwhile, 74 percent of the respondents said they plan to switch to generics or change brands of crop protection products, while many said they would reduce fertilizer practices. The farmers also indicated an increased attention to marketing to raise revenue. Further, 34 percent of the respondents stated that they will not make new equipment purchases this year. Millennium Research conducted the survey for J.L. Farmakis. A follow-up survey is planned for later this year.
USDA says the number of certified organic operations in the U.S. increased by near 12 percent in 2015, continuing the trend of double-digit growth in the organic sector. New data released this week shows there are now more than 21,000 certified organic operations in the United States and more than 31,000 in the world. The data from the Agricultural Marketing Service’s National Organic Program says last year’s growth represents the highest growth rate since 2008 and an increase of nearly 300 percent since 2002. The total retail market for organic products is now valued at more than $39 billion in the United States and over $75 billion worldwide. Agriculture Secretary Tom Vilsack responded to the data by saying “the increasing number of organic operations shows that USDA’s strong support for the vibrant organic sector is helping to create jobs and opportunities in rural communities.”
A new study finds that consumers’ knowledge of food labels affects their perception of chicken product quality. Meatingplace reports the study by the University of Arkansas reveals non-sensory factors, such as label claims and the understanding level of the claims play a role in why consumers prefer a certain product over another. The study split a group of 66 participants in half, creating an equal number of participants that had prior knowledge of sustainability-related labels and those that had no prior education or knowledge. Both groups evaluated and sampled four chicken meat products. The samples were the same but labeled with four different claims. The high understanding group found differences among the labeled products while the control group did not determine any significant differences among the different chicken items.
The Food and Drug Administration Tuesday announced the final transportation rule under the Food Safety Modernization Act. While not yet published in the Federal Register, the rule will go into effect 60 days after publication, according to the Hagstrom Report. The rule establishes requirements for shippers, loaders, carriers and receivers involved in transporting human and animal food to use sanitary practices to ensure food safety. The requirements do not apply to transportation by ship or air because of limitations in the law. The earliest compliance dates for some companies begin one year after final publication of the rule in the Federal Register. A court order required the FDA to finish the rule by the end of March. While the rule has yet to be published, it appears the FDA complied with the court order.
As expected, farmers are tightening their belts on everything from seed to fertilizer to equipment this year as they work to weather the drop in commodity prices. Pro Farmer’s First Thing Today reports this places heightened attention on Monsanto’s quarterly earnings report that is due out today with analysts expecting the company to report an 8.5 percent drop in revenue. Monsanto executives have said that the company’s seed discounts and those of its rivals have been the steepest in years. Seed dealers have noted that farmers are passing on new varieties to save money. Nathan Kizer, seed manager at South Dakota Wheat Growers, says farmers have been moving away from seed stacked with multiple biotech traits and instead buying varieties that have been on the market three to five years.
La Niña appears to be arriving sooner than expected. Reuter’s weather expert Karen Braun says the cold phase of tropical Pacific Ocean surface temperatures is occurring more rapidly than originally thought. New data indicates that the development of La Niña is underway. Organizers of a government forecast model announced the model had accumulated an error that was skewing results for global sea surface temperatures. Correction of the error has led to the prediction that La Niña will fully develop by July, compared to the previous forecast that was calling for El Niño to continue through the summer.