April 3, 2014 Mike Gray posted a note into the University of Illinois IPM bulletin about the addition of three more counties to the Yieldgard resistant western corn rootworm saga. The Entomologist also reprimanded the industry for not taking academic recommendations on management of GMO products seriously a decade ago. You may the read the FULL ARTICLE here, and an excerpt below.
"While the greater implementation of best management practices is a step in the right direction — let’s be clear, these practices should have been in place when Bt corn rootworm hybrids were first used over 10 years ago. Accelerated reliance upon the pyramided Bt rootworm products with reduced seed blend refuges will not solve this resistance management challenge. Increased use of soil insecticides, along with Bt rootworm hybrids, will likely only exacerbate resistance development. As I have done in the past, I urge producers to implement a long-term integrated pest management approach for corn rootworms. This includes the use of multiple tactics (over time, not all in the same season), such as: use of a more diverse crop rotation system, use of a non-Bt hybrid in conjunction with a planting-time soil insecticide, rotation of pyramided Bt hybrids, and consideration of an adult suppression program in heavily infested fields."
There are a handful of meteorologists on the planet that follow weather in all the places farmers grow commodity crops like corn, soybeans, wheat and rice. Each is likely to tell you, as Todd Gleason reports, the most difficult forecast to produce is for the Midwest.
The CME Group Inc said today it will implement a new system for setting daily price limits for U.S. grain and oilseed futures starting next month. It will regularly change the limits to markets including corn, soybeans and wheat. These will reset twice a year with the change based on underlying price levels. CME will also remove price limits for all grain and oilseed options.
Both changes are set to take effect the first trading day of May which begins the evening of Wednesday April 30th. The semi annual adjustment of the limits will widen the trading range during periods of higher prices and narrow the limits when market prices are lower.
The reset dates will be the first trading day in May and the first day in November.
On May 1, the initial daily limit for corn will drop to 35 cents a bushel from 40 cents, rise to $1.00 from 70 cents for soybeans, and drop to 45 cents a bushel from 60 cents for CBOT soft red winter wheat.
It can be lonely on the farm. However, it sure looks like Twitter is letting guys striving for the same thing talk in realtime when they're busy. This 'screen shot' is a 10pm Saturday night conversation from a western Illinois farmer. He simply asked for a roll call of who was still in the field. The answers came back from across the Midwest.
U.S. grown soybeans are being shipped out of the nation at an astounding pace and, as you'll hear from University of Illinois Ag Economist Darrel Good, there doesn't appear to be any slowdown in the movement.
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Dave Dickey & Todd Gleason
P.S. Commodity Week from last Friday was a "HUMDINGER"! It runs about twice as long as usual. You should take a listen.
I love out of the way places to travel and explore. A blacktop (a rural road) is one of my favorite things in all the world. They look the same just about everywhere I've ever been, but always hold a surprise or two. If you play your cards right you'll find something of interest and a great place to eat. Coming straight south from East Peoria, Illinois is a great road.
This one is wider than usual, and even has a name on the map, Springfield Road. There are many treats to see. If you are a "Lord of the Rings" fan you'll love the hobbit hole along the west side of the road. It sits there with a perfectly round door, just like those in the shire.
Once you drop down the mountain of a hill - for central Illinois - pass all the white fences, and mount the other side of the little valley, keep your eyes open for a pair of pines on the east side of the road (see the red pin on the map along Springfield Road). Hunkered down in those pines is a rock and plaque.
I think only those that have knelt upon the earth, filled their lungs with its sweet fragrance, and reached into it searching for a kernel of corn, can truly appreciate the rock and the acreage.
It is the birthplace of yellow dent corn. This is the place where a poor stand prompted Robert Reid to intra-seed a second open pollinated variety hoping for a good nick. It worked, and over the next forty years Reid and his son James diligently developed the new yellow dent corn variety. Eventually, it became the primary parent line behind nearly all modern corn hybrids.
If you farm, this is a sacred place to visit.
Given that, I doubt it is a sacred place for the rest of the people in the vehicle. They'll need another reason. I would suggest the Harvest Cafe in Delavan. Bring your wallet, but do plan to have a magnificent meal in one of the most luxurious little spaces in rural route Illinois.
Click on any of the photos to show a lager version.
APRIL 3, 2014
Source: U.S. Energy Information Administration based on Oil Price Information Service (ethanol prices) and Thomson Reuters (RBOB prices).
Note: RBOB is reformulated blendstock for oxygenate blending gasoline, a motor gasoline blending component intended for blending oxygenates to produce finished reformulated gasoline.
Ethanol spot prices have increased steadily since early February. By late March, New York Harbor (NYH) spot ethanol prices exceeded prices for RBOB (the petroleum component of gasoline) by more than $1 per gallon. Ethanol spot prices in Chicago and Gulf Coast markets also rose above NYH RBOB prices.
The premium of New York Harbor over Chicago spot ethanol prices, which averaged 25 cents per gallon in January (close to the typical transportation costs of moving ethanol from production centers in the Midwest to terminals on the East Coast in recent years) widened to $1 per gallon in early March. Logistical constraints in and around ethanol production centers in the Midwest, mainly involving railroads on which approximately 70% of ethanol is shipped, appear to be a key factor driving recent prices.
Ethanol futures prices suggest that market participants expect the recent price increase to be short-lived as both rail system congestion improves and ethanol producers respond to the strong incentive that higher ethanol prices provide.
Source: U.S. Energy Information Administration, based on Railroad Performance Measures .
Note: Manifest trains combine cars carrying different products and are often broken up for delivery in a smaller number of cars. Railcar dwell time is the time that loaded railcars spend in a terminal awaiting movement.
Extremely cold temperatures this winter led to rail congestion in and out of midwestern terminals that delayed shipments to other regions and resulted in significant ethanol stock draws. Railcar dwell time, the time that loaded railcars spend in a terminal awaiting movement, at Burlington Northern Santa Fe Corporation’s Galesburg, Illinois terminal, which handles many ethanol cars from Iowa, nearly doubled in early 2014 to reach a peak of 60 hours in February and remain above year-ago levels.
While more than 70% of ethanol producers are equipped to load unit trains (trains running a single product), only about 35% of gasoline blending terminals are equipped to receive them. The average speed of manifest trains (trains running multiple products), which are often used to deliver ethanol to gasoline blending terminals that are not equipped to handle unit trains, decreased by 23%, from 22 miles per hour (mph) to 17 mph over the past 12 months.
Ethanol stocks were drawn down nationwide by nearly 2 million barrels (bbl) from mid-February to mid-March, partially recovering to 15.9 million bbl on March 28. This is more than 4 million bbl below typical March levels, which averaged more than 20 million bbl from 2011 through 2013. East Coast inventories were especially hard hit and on March 14 reached their lowest level (4.5 million bbl) since EIA began recording data in June 2010. For a more detailed analysis, see the April 2 edition of This Week in Petroleum.
Principal contributors: Arup Mallik, Sean Hill