Tuesday, as some of you may already know, I flew to Washington, D.C. with my father on an Honor Flight. It is a most moving experience. Dad is a WWII vet and among only a handful on this trip. Most were Korean Era vets. You can see photos taken during the day using the link below. If you are or know a WWII or Korea era vet and can travel (at all) please do not miss this opportunity. Honor Fights are extraordinary events.
Over this Memorial Day as we remember the fallen, please take time to thank those that served along side them. Freedom comes at a price, and a few have paid with their lives, many have paid with their service. We thank all of them.
Todd Gleason, Guardian - Central Illinois Honor Flight
The United States House of Representatives Committee on Agriculture will mark up the 2013 version of the farm bill today in Washington, D.C. (May 15). Last night ranking member of the committee Collin Peterson spoke about the bill and the mark up with farm broadcasters. Todd Gleason was among them and files this report. It begins the way the evening event started with Peterson and his band the "Second Amendments" entertaining members of the National Association of Farm Broadcasting.
USDA's World Agricultural Outlook Board is projecting a record setting corn crop and 2013/2014 ending stocks. Here's an edited excerpt from the report, "Corn production for 2013/14 is projected at 14.1 billion bushels, up 3.4 billion from 2012/13 when extreme drought and heat reduced yields to their lowest levels since 1995/96. The 2013/14 corn yield is projected at 158.0 bushels per acre, 5.6 bushels below the weather adjusted trend presented at USDA’s Agricultural Outlook Forum in February. The slow start to this year’s planting and the likelihood that progress by mid-May will remain well behind the 10-year average reduce prospects for yields. Corn supplies for 2013/14 are projected at a record 14.9 billion bushels, up 3.0 billion from 2012/13."
Those numbers all point to a 2 billion bushel corn ending stocks figure by the time the fall of 2014 arrives with an average season's cash price ranging from $4.10-$5.30 per bushel. This all despite the drought west of I-35 and the delayed planting season.
Monday April 15, 2013 USDA released the first numbers on corn planting around the nation in the weekly Crop Progress summary.
Corn Planting Progress
Apr 15 5yr/avg
National 2% 7%
Illinois 1% 12%
Iowa 0% 3%
Nebraska 0% 2%
Minnesota 0% 2%
Inidiana < 1% 6%
The state statisticians from Iowa, Illinois, Nebraska, Minnesota, and Indiana provide audio commentary on regional conditions each Tuesday during our Closing Market Report.
Other items in the crop progress reports; Iowa received 2.9 inches of rainfall last week., and Nebraska 1.3 inches; it snowed across Minnesota. Expected 3 day rain totals this week (Tuesday-Thursday) in parts of Illinois and Iowa exceed 3 inches. See for yourself in the photo or on NOAA's website.
Yesterday Iowa State's Elwynn Taylor tweeted: "IA now exceeds the 100-yr ave for “winter” season precip. Drought ended in SE but still more needed elsewhere." If you are a twitter user you can follow him @ElwynnTaylor. You can follow Todd Gleason @CommodityWeek