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Thursday’s Closing Grain Bids

September 13th, 2018

 

St Joseph

 

Yellow Corn

3.23

White Corn

3.23

Soybeans

7.53 – 7.69

LifeLine Foods

 3.27

 

 

Atchison

Yellow Corn

 3.15

Soybeans

 7.53

Hard Wheat

 4.41

Soft Wheat

 4.22

 

 

Kansas City Truck Bids

 

Yellow Corn

3.21 – 3.26

White Corn

3.49 – 3.56

Soybeans

7.88

Hard Wheat

5.02

Soft Wheat

 4.72

Sorghum

5.37


USDA Cash Grain Prices

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

USDA Says Meat and Animal Product Exports up in 2018

2016 file photo. Courtesy Second Harvest

All major U.S. animal protein sources experienced growth in exports in the first half of 2018 compared to the same period in 2017. The Department of Agriculture’s Economic Research Service said this week that trade data for the first half of the year indicate year-over-year growth for U.S. exports of all major meats as well as dairy and eggs. Dairy exports led the way, increasing by nearly 20 percent, likely due to competitive prices. Lamb and mutton exports increased by 16 percent, albeit from a much smaller base than other meats. Strong global demand, particularly from Asian markets, pushed beef and veal exports up 15 percent. First-half 2018 pork exports, more than six percent above a year ago, were driven higher mainly by larger shipments to Mexico, South Korea, Central and South America, and the Caribbean. On the poultry side, turkey meat exports grew at levels on par with pork, while broiler meat and egg exports grew by only two and one percent, respectively.

WASDE Predicts Second-largest Corn Crop, Record Soybean Crop

The Latest World Agriculture Supply and Demand report predicts the second-largest corn crop for the United States this year and a record soybean crop. Corn production is forecast at 14.82 billion bushels, up 241 million from last month on an increased yield forecast. The outlook predicts larger production, increased domestic use, greater exports, and higher ending stocks. The season-average corn price received by producers is projected ten cents lower with a midpoint of $3.50 per bushel. Meanwhile, U.S. Soybean production is projected at a record 4.6 billion bushels, up 107 million on a record yield forecast of 52.8 bushels per acre. The season-average soybean price is forecast at $7.35 to $9.85 per bushel, down $0.30 at the midpoint. Finally, the wheat supply and demand estimates are unchanged from last month, and the season average farm price range is unchanged at the midpoint of $5.10 per bushel and the range is narrowed $0.20 per bushel to $4.70 to $5.50.

State Ag Officials Voice Concerns with Trade Approach

Donald Trump in Washington, D.C. Photo courtesy Gage Skidmore

State agriculture officials say the Trump administration needs to aggressively seek market access across the globe, while expressing concerns with the administration’s trade agenda. The National Association of State Departments of Agriculture passed two resolutions this week during its annual meeting that leadership says reaffirms the critical importance of international trade to the organization. The group of state agriculture officials says NASDA remains concerned with the use of unilateral action against trading partners to correct trade disputes. The organization also says a fully-seated, functioning appellate body at the World Trade Organization will not only allow the U.S. to work with like-minded countries to hold China accountable for its trade-distorting practices, it will also “enable the administration to remedy trade disputes with other countries who may discriminate against American farmers and ranchers.” The organization is comprised of leadership from state agriculture departments.

Wednesday’s Closing Grain Bids

September 12th, 2018

 

St Joseph

 

Yellow Corn

3.25

White Corn

3.25

Soybeans

7.60 – 7.73

LifeLine Foods

 3.29

 

 

Atchison

Yellow Corn

 3.18 – 3.19

Soybeans

 7.63

Hard Wheat

 4.46

Soft Wheat

 4.31

 

 

Kansas City Truck Bids

 

Yellow Corn

3.23 – 3.28

White Corn

3.51 – 3.66

Soybeans

7.95

Hard Wheat

5.07

Soft Wheat

 4.82

Sorghum

5.40


USDA Cash Grain Prices

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

2019 Farmland Rental Rates Expected Steady with 2018

photo by Melissa Gregory

Farmland rental rates are not expected to change much in 2019. A new forecast by Farmers National Company predicts cash rental rates for 2019 to stay the same as 2018, for the most part. The company notes that despite current low grain prices, many farmers had the opportunity to forward price corn and soybeans at similar or better prices than last year. Also, the company says the soybean tariff payment will help offset some of the price decline. Good yields in many regions, according to the report, will help stabilize gross revenue for farmers, and most farmers do not like to give up acres that they are farming, which leads them to maintain rents to keep the lease another year. Incomes for landowners have come down since the peak several years ago, and now they are looking for stability or an increase in the coming seasons. Landowners’ farm incomes have been squeezed in some states by increasing property tax rates that put pressure on maintaining rental rates. In the end, the return on investment for farmland owners hopefully has bottomed out as interest rates have started to climb.

NAFTA Main Sticking Point Indeed is Dairy

Negotiators from Canada returned to Washington, D.C. Tuesday in an effort to reach a deal on the North American Free Trade Agreement. Canadian Foreign Minister Chrystia Freeland joined U.S. Trade Representative Robert Lighthizer as the U.S. looks to wrap up talks with Canada quickly. However, talks are not expected the rest of the week with a looming hurricane along the Eastern U.S. and scheduled meetings for Freeland in Western Canada. Reuters reports that officials say the main sticking points are Canada’s dairy quota regime, Ottawa’s desire to keep a dispute-resolution mechanism, and Canadian media laws that favor domestically produced content. That falls in-line with Agriculture Secretary Sonny Perdue’s comment earlier in the week, saying Canada must scrap the Class 7 milk program. Dairy trade was the focus of pre-NAFTA concerns more than a year ago from the Trump Administration. U.S. dairy wants more market access to Canada.

Farm Bill Extension Not Ruled Out

Getting a farm bill done before current law expires at the end of this month may not happen, as congressional leaders have not ruled out an extension. The 2014 farm bill expires on September 30th, and lawmakers have few days this week to iron out differences between the House and Senate versions of the new farm bill. Politico reports leaders haven’t ruled out extending the farm bill deadline to give themselves more negotiating time, though Republicans in both chambers say they hope they can avoid that. The House version of the bill includes work requirements as part of the Supplemental Nutrition Assistance Program, that are not in the Senate bill. Oklahoma Representative Frank Lucas, a former chairman of the House Agriculture Committee, says the Senate has taken “a very hard-core position,” adding that the House language on work requirements won’t be in the final bill, as passed by the House. However, Lucas says the Senate “is going to have to give,” adding “there is a compromise out there somewhere.” However, lawmakers must reach that compromise quickly to get an on-time farm bill.

Tuesday’s Closing Grain Bids

September 11th, 2018

 

St Joseph

 

Yellow Corn

3.40

White Corn

3.40

Soybeans

7.52 – 7.64

LifeLine Foods

 3.43

 

 

Atchison

Yellow Corn

 3.34 – 3.36

Soybeans

 7.54

Hard Wheat

 4.62

Soft Wheat

 4.43

 

 

Kansas City Truck Bids

 

Yellow Corn

3.37 – 3.42

White Corn

3.66 – 3.69

Soybeans

7.87

Hard Wheat

5.23

Soft Wheat

 5.09

Sorghum

5.66


USDA Cash Grain Prices

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

USDA, FDA, to Hold Public Meeting on Cultured Meat

The Department of Agriculture and the Food and Drug Administration announced a joint public meeting to discuss the use of cell culture technology to develop products derived from livestock and poultry. Scheduled for October 23-24, 2018, the meeting will be hosted by the USDA’s Food Safety and Inspection Service and the FDA. USDA says the meeting will focus on the potential hazards, oversight considerations, and labeling of cell cultured food products derived from livestock and poultry. Agriculture Secretary Sonny Perdue says the of the discussion that: “we must consider how to inspect and regulate to ensure food safety, regardless of the production method.” The first day of the meeting will focus primarily on the potential hazards that need to be controlled for the safe production of animal cell cultured food products and oversight considerations by regulatory agencies. The second day of the meeting will focus on labeling considerations.

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